Climbing Wall Finance

Hire purchase means you can get the high-quality equipment you need by paying VAT and a deposit upfront and then making fixed monthly payments with a guaranteed ownership option. These monthly payments may be affected by whether you pay off the entire loan over the term or choose a final balloon payment. With hire purchase, you have the final option to purchase for a nominal fee, transferring ownership of the asset to the business.

For the acquisition of ‘soft assets’, such as IT equipment, vending machines or furniture, you may be interested in finance leasing. This enables you to get the equipment you need without the upfront costs associated with large purchases. It works by the lender purchasing the item and then leasing it to you through fixed monthly payments over an agreed term. The deposit is often lower and VAT is spread across the term rather than paid upfront. At the end of the term, you can give the item back, continue leasing or discuss ownership options

If your venue is in need of a cash injection to kickstart a project help, cover operational costs or take opportunities where otherwise they could be missed, a business loan could be a useful option.

Well-suited to projects where funds are spent on a variety of items, business loans for climbing centres 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 which the lender can claim ownership of if repayments are not made. These may be used in equipment refinance deals.

Are you opening a new climbing centre and need a helping hand to get off the ground? Asset finance for new businesses allows you to focus on running your company and bringing in customers, confident that you have the equipment and facilities you need without the large initial outlay. Using finance for your climbing wall means that you preserve the credit card or overdraft for when the unexpected happens.

If you recently bought new equipment outright but would now prefer to have financed it, we can help with a sale-and-lease-back agreement. We will calculate the current value of the equipment based on the invoice as long as the item is relatively new. After a few checks and acceptance of the term and monthly repayments, we can give you a proportion of the invoice to put back into the business. You’ll then make fixed monthly payments, including interest, whilst your new gym equipment increases footfall for your business.

If your business owns high–value assets that are not currently on finance, subject to a valuation, it is also possible to use them as security for a loan, with lenders offering a cash loan up to a % of the asset’s value.

Businesses with turnovers up to £45m, including those who have previously benefited from the government’s CBILS, BBL or RLS, can apply for the Growth Guarantee Scheme (GGS), the latest government backed loan scheme designed for small businesses.

GGS Loans can be used for any legitimate business purpose or simply to provide cash flow. Annual flat rates are typically 10% and the government continues to guarantee 70% of the outstanding balance, giving added security to lenders who are now able to consider finance for businesses that 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.