Plant hire firms are capital-constrained by nature: your assets are out on site earning hire revenue, but acquisition, maintenance, and mobilisation costs fall to the company. Credicorp's lending is issued to the limited company or LLP, with no director personal guarantee required.
Funding fleet maintenance and compliance
Plant must pass LOLER and PUWER inspections, and keeping equipment certificated is a non-negotiable operating cost. Annual service schedules, thorough examination fees, and breakdown repairs can create unpredictable outgoings. A Business Loan provides a fixed sum to cover a batch of service and compliance work, with repayment structured over the short term against your hire income.
Bridging mobilisation and hire billing cycles
When a machine goes out on hire, transport, fuel, and operator costs are immediate — but the hire invoice may not settle for 30 to 60 days. Credicorp Flex gives your company a revolving credit line to bridge that gap on each hire: draw when the machine is delivered, repay when the hire account settles. The facility stays open across your fleet's ongoing hire programme.
Spreading the cost of a single machine acquisition
Adding to your fleet — an excavator, dumper, telehandler, or compactor — may involve a purchase from a dealer or auction. Credicorp Slice spreads a single acquisition invoice into three or four weekly instalments at a flat 6% fee, giving you time to place the machine on hire before the full purchase price is settled.
- LOLER thorough examination and annual service costs
- Breakdown repair and spare parts
- Transport and mobilisation for off-hire returns
- Fleet additions: excavators, telehandlers, dumpers
- Fuel, oil, and consumables at hire commencement
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: Business finance for scaffolding hire companies, Business finance for demolition contractors, Can a civil engineering firm borrow without a personal guarantee?