Construction Finance – Development & Equipment Loans

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Equipment, Vehicles & Machinery

Business Finance for Construction

Over the next few years, the outlook for the UK construction industry will be driven by both negative and positive after-effects of the pandemic. Finance from Portman can help you protect your business from the worst of them and capitalise on the opportunities that arise.

How does it work?

Simple Financing Solutions for Construction Businesses with Portman

We know that finance can sometimes be confusing and stressful, but what we do is simple.

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1. Get started in 1 minute.

Enquire without affecting your credit score.

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2. Understanding your business.

A dedicated account manager will discuss your needs and collect documentation.

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3. Our experts do the leg-work.

We find the right deals, complete applications on your behalf and get you a no obligation quote.

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4. Your no-fuss finance is funded.

If accepted, your assets will be bought and delivered or the finance released to your account.

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Construction Equipment Finance

The types of work that will be most in-demand following the pandemic will differ from those before. For instance, warehousing, logistics, and the repurposing of redundant commercial premises are all likely to see strong demand. Increased Government funding will drive growth in health, civil engineering and community work growth. Successful construction businesses will be those that can respond to varied opportunities with ready-to-go capability. Get your business ready for anything, with construction equipment finance from Portman.

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Increase buying power for construction materials

Construction materials and machinery have increased in price and are taking longer to arrive. Successful construction businesses will be those that can guarantee their supply lines, both when bidding for work and in their ability to finish the job on schedule. Portman finance can give you the buying power to purchase in larger quantities to reduce unit costs and command priority status on back orders.

Our team of experts is ready to help

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Safeguard cashflow across staged payment projects

Supply issues disrupt project schedules, affecting  cashflow and workload. Successful construction businesses will be those that have the cash available to sustain them between peaks of demand, while deploying their teams effectively across multiple projects.

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Invest in profitability

Successful construction businesses will be those with a diverse client base, to create a more even work pipeline and reduce the risk of a client folding. Finance from Portman could be used to grow your marketing capability lowering the cost of winning work. And you could invest in digital tools such as CRM and project planning apps that can help improve project efficiency and enhance profitability.

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Invest in efficiency

The pandemic forced the construction industry to use labour more sparingly. With Brexit causing reductions in available skilled labour from Europe, efficient use of labour will remain an ongoing priority. Successful construction businesses will be those that invest in efficiency, are sophisticated enough to collaborate with other contractors, and can use technology to cut waste and speed up construction processes.

How can we support your Construction business

Successful construction businesses protect, invest and evolve. Unlock your potential with Portman.

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Hire Purchase

Hire purchase usually involves paying the VAT and a deposit up-front. Fixed monthly repayments are then made, affected by whether you pay off the entire loan over the term or choose a final balloon payment. The final option to purchase is guaranteed for a nominal fee, transferring ownership of the asset to the customer.

Hire purchase is well-suited for situations where a company wants to own the item at the end of the term. This often happens when the asset has a significant usable lifespan, a high residual value, and will not need to be upgraded.

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Lease Finance

Equipment leasing allows a business to acquire hard or soft assets without the upfront costs associated with large purchases. A lender purchases the item, and the company leases leases it through fixed monthly payments over an agreed term.

Typically, asset finance is provided for high value ‘hard’ assets such as machinery, equipment or vehicles. Portman also arranges asset finance for ‘soft’ assets such as IT, fitness, catering or vending equipment, as well as premises fit-outs, furniture, or even air-conditioning.

Explore Lease Finance
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Business Loans

Business loans are a way of borrowing money, which is repaid in monthly instalments, including interest, over an agreed term. Business loans are a common way to help smooth out cash flow fluctuations and take opportunities where they could be missed due to a lack of working capital.

Business loans can be secured or unsecured. Portman typically provides unsecured loans, which can be more flexible and do not require collateral but are likely to require a personal guarantee. Secured loans are tied to an asset the lender can claim ownership of if repayments are not made. These may be used in equipment refinance deals.

Explore Business Loans
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Start Up Loans

New businesses often need an injection of finance to get them off the ground. Asset finance for new businesses allows you to focus on running your company and bringing in customers. You can remain confident that you have the equipment, vehicle, or stock you need without the large initial outlay.

Using finance for your equipment means that you preserve the credit card or overdraft for contingency and operating expenses when the unexpected happens.

Explore Start Up Loans
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Equipment Refinance

If you recently bought a high-value item outright but would now prefer to have financed it, we can help with a sale-and-lease-back agreement. If the item is less than 3 months old, give us a copy of the invoice, and we will calculate the current value. After a few checks and acceptance of the term and monthly repayments, we can give you the cash equivalent of the invoice to put back into the business. You’ll then make fixed monthly payments, including interest, while your asset earns money.

You can use high value assets not currently financed as security for a loan, subject to a valuation. Lenders will offer a cash loan up to a % of the asset’s value.

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Recovery Loans

Recovery Loans offer an excellent way of making sure your business gets back on its feet after the long-term effects of the pandemic and subsequent supply chain disruption. Businesses with turnovers up to £45m, including those who have previously benefited from the government’s CBILS, BBL or RLS, can apply.

Recovery Loans can be used for any legitimate business purpose or simply to provide cashflow. Rates are capped at 14.99% and the government continues to guarantee 70% of the outstanding balance, giving added security for lenders who are now able to consider finance for businesses who may have previously found it difficult to obtain.

Up to £2m can be borrowed on terms from 2 to 6 years. Your personal private residence cannot be taken as security.

Explore Recovery Loans

Successful construction businesses protect, invest and evolve.

Unlock your potential with Portman Finance Group.

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