Question 1

Can I get finance for construction equipment if my company is relatively new?

Accepted Answer

Yes, we work with lenders who specialise in construction finance and understand the sector. While trading history is considered, factors like contract pipeline, director experience, and asset value are equally important. Start-ups with strong contracts or experienced directors can often secure competitive rates.

Question 2

How does invoice finance work with retention clauses?

Accepted Answer

Construction-specialist invoice financiers understand retention practices. Typically, they'll advance against the non-retained portion of your invoices (often 95% of the available amount). Some lenders also offer retention release finance to help manage cash flow until retentions are released.

Question 3

What deposit do I need for construction plant finance?

Accepted Answer

Deposits typically range from 10-20% for hire purchase, though 0% deposit options are available for established businesses with strong financials. Finance leases often require no deposit. The exact requirement depends on your business profile and the asset type.

Question 4

Can I finance used construction equipment?

Accepted Answer

Absolutely. Many construction businesses prefer quality used equipment for better value. We work with lenders who finance equipment up to 10 years old, though terms and rates vary based on the asset's condition, remaining useful life, and your business profile.

Construction Finance

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