06.04.2011

1% financing

If you based in the UK Bravi UK is offering some special financing on BlueLift spider lifts until July.

Financing rates do not normally make it into our news section, but a one percent flat/fixed rate over 36 months is keen, even if you factor in the flat aspect it is still only 2.35 percent. Terms for 60 months are marginally higher. It also reflects moves by a number of equipment producers to compensate for tighter bank lending.

The aim of Bravi UK is of course to encourage buyers to try the new BlueLift models, on the basis that once tried users will become converts. However the move also reflects a number of encouraging signs and initiatives within the crane and access market, that could help well managed small to medium sized rental companies.
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The 22 metre Bluelift C22

One of the main concerns for manufacturers and rental companies in the current climate is that funding will not be available for fleet replacements or range expansion. While the situation is still sticky, there are signs in several countries, including the UK, that the situation is not quite as bad as was feared.

Barclays recently provided an attractive finance package for Crowland Cranes to purchase its new 220 tonne Tadano-Faun ATF220G-5 flagship crane. Graham Martin, relationship director at Barclays Corporate, Peterborough said: “We were delighted to be able to support this longstanding client to purchase the new crane which will enable them to take on larger contracts. We look forward to helping them to further grow their very successful business in the future.” This attitude is not dissimilar to a number of other high street banks in the UK.
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Crowland's new 220 tonne Tadano Faun ATF220G-5

In addition a number of manufacturers are working even more closely with their finance partners who, unlike during some previous recessions, are not completely pulling out of the sector.

Bravi UK has registered with the Financial Services Authority for example, in order to allow it to work directly with its customers to provide funding. In a similar vein Canadian based manufacturer Skyjack is setting up its own finance division in partnership with its owner Linamar, to offer buyers some attractive finance alternatives.

It seems that while funding could still be an issue for many small to medium sized companies around the world, manufacturers and distributors are stepping up to the challenge but, unlike previous periods of growth, none are interested in funding