Lab Equipment Finance & Leasing

Lab Equipment Finance - How It Works

Lab equipment is essential for many businesses and industries, such as biotechnology, pharmaceutical, medical, research, and education. However, lab equipment can be very expensive and often requires regular maintenance and upgrades. This can pose a challenge for businesses that need to invest in lab equipment but do not have enough cash flow or capital to do so.

Fortunately, there are alternative ways to acquire lab equipment without having to pay the full cost upfront. One of these options is Lab Equipment Finance & Leasing, which allows businesses to use lab equipment for a fixed period of time in exchange for regular payments. This can help businesses access the latest and most advanced lab equipment without having to worry about the ownership, depreciation, or disposal of the equipment.

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What types of finance are available for Lab Equipment Finance & Leasing?

There are two main types of finance available for Lab Equipment Finance & Leasing: hire purchase and operating lease.

Hire purchase is a type of finance where the business pays a deposit and then makes monthly instalments until the full cost of the equipment is paid off. At the end of the agreement, the business owns the equipment outright. Hire purchase is suitable for businesses that want to own the equipment eventually and can claim capital allowances on the equipment.
Operating lease is a type of finance where the business pays a monthly fee to use the equipment for a fixed term, usually between 2 and 5 years. At the end of the agreement, the business returns the equipment to the lender or has the option to extend the lease, upgrade the equipment, or purchase the equipment at a reduced price. Operating lease is suitable for businesses that want to use the equipment for a short period of time and do not want to deal with the maintenance, depreciation, or disposal of the equipment.

How does it work?

The process of Lab Equipment Finance & Leasing is simple and straightforward. Here are the steps involved:

Get in contact with a broker, such as us at Clifton Private Finance. A specialist broker that can source lenders and organise types of finance for lab equipment.
Your business will then need to discusses its requirements, budget, and preferences with Clifton Private Finance, who will then search for the best deal and type of finance for the business.
Choose the lab equipment from a reputable supplier and agrees on the price and delivery terms with the supplier.
You'll then sign a finance agreement with the lender, who will then pay the supplier for the equipment on behalf of the business.
Receive and install the equipment and starts using it for its operations.
Once this is complete, you'll need to start making regular payments to the lender as per the finance agreement until the end of the term.
Depending on the type of finance, the business either owns the equipment, returns the equipment, or has the option to continue, upgrade, or purchase the equipment.

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What are the benefits of Lab Equipment Finance & Leasing?

Access to the latest and most advanced lab equipment: Lab Equipment Finance & Leasing allows businesses to use the most up-to-date and high-quality lab equipment without having to pay the full cost upfront. This can help businesses improve their productivity, efficiency, and competitiveness in their industry.
Flexibility and convenience: Lab Equipment Finance & Leasing gives businesses the flexibility to choose the type of finance, term, and payment plan that suits their needs and preferences. Businesses can also easily upgrade, replace, or extend the equipment as their needs change over time.
Tax benefits: Depending on the type of finance, businesses may be able to claim tax deductions on the payments, interest, or depreciation of the equipment. This can help businesses reduce their tax liability and increase their cash flow.
Preservation of cash flow and capital: Lab Equipment Finance & Leasing enables businesses to spread the cost of the equipment over a longer period of time, rather than paying a large sum upfront. This can help businesses preserve their cash flow and capital for other purposes, such as working capital, expansion, or innovation.

Are there any drawbacks?

Lab Equipment Finance & Leasing also has some potential drawbacks that businesses should be aware of before entering into a finance agreement. Some of these drawbacks are:

Higher overall cost: Lab Equipment Finance & Leasing may result in a higher overall cost for the equipment, as the business will have to pay interest and fees on top of the principal amount. The longer the term, the higher the total cost will be.
Commitment and risk: Lab Equipment Finance & Leasing requires the business to commit to a fixed term and regular payments, regardless of the performance or profitability of the business. If the business fails to make the payments, it may face penalties, legal action, or repossession of the equipment. The business may also be liable for any damage, loss, or theft of the equipment during the term.
Depreciation and obsolescence: Lab Equipment Finance & Leasing may expose the business to the risk of depreciation and obsolescence of the equipment, especially if the equipment is subject to rapid technological changes or wear and tear. The business may end up paying for equipment that is outdated, inefficient, or unreliable.

FAQs

What types of lab equipment can I finance?

You can finance any type of lab equipment that is used for your business operations, such as microscopes, centrifuges, spectrometers, incubators, autoclaves, pipettes, balances, and more.

What are the eligibility criteria for Lab Equipment Finance & Leasing?

The eligibility criteria for Lab Equipment Finance & Leasing may vary depending on the lender, the type of finance, and the amount of finance. However, some of the common factors that lenders may consider are:

Your credit history and score
Your business turnover and profitability
Your business plan and projections
Your industry and sector
Your existing debt and liabilities
The type, value, and condition of the equipment

How long does it take to get approved for Lab Equipment Finance & Leasing?

The approval time for Lab Equipment Finance & Leasing may depend on the lender, the type of finance, and the complexity of the application. However, with the help of Clifton Private Finance, you can expect to get approved within a few days or even hours, as we have access to a network of lenders who can offer fast and flexible finance solutions for lab equipment.

How we can help

In need of Lab Equipment Finance & Leasing?

We can help you:

Decide if Lab Equipment Finance & Leasing is right for you
Understand what type of finance best suits your situation
Feel comfortable with how the process works and what the costs will be

And when we’ve established the best type of finance for you, we will:

Compare rates from multiple lenders across our network
Negotiate the best deal for your circumstances
Guide you through the application process
Chase through your application until the asset is in your hands

Call our team on 0203 900 4322 to discuss your requirements or book an appointment.

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Call us today to discuss your requirements on 0203 900 4322

What Our

Clients Say

I approached Clifton Private Finance to help me get a mortgage as an Expat working in the Far East. I would normally 'cut out the middle man' on something like this and try to get myself a deal directly with the banks, but I am now sold on the broker concept and wouldn't hesitate to use Clifton Private Finance again. There were a number of complicating factors such as being an expat, the stamp duty holiday, the sheer amount I wanted to borrow and the fact I wanted it all wrapped up before the Stamp Duty holiday ended. It is clear to me now that the relationship that brokers have managed to foster with their banks means they can simply pull levers and make stuff happen that us ordinary folk cannot. Put simply, they are worth every penny, will take most of the stress out of the lending process, and seem to have access to deals that you just won't find on the internet. Thank you George and Jan for all your hard work!

James M

Luther was excellent. Very clear in his advice and explanations of products and was able to move things on very quickly when we ran into difficulties with the estate agents. Without a doubt I would recommend Luther to all friends, family and colleagues. Luther was a joy to deal with and took a lot of the stress out of a troublesome transaction, from my end. I would view Luther as real asset to Clifton Private Finance Ltd.

William W

The team at Clifton Private Finance has been outstanding, not only in helping me to obtain a mortgage on a slightly unusual home, but also in continuing to provide support and liaise with the lender and solicitors through to completion. Thank you for making the process of buying my first home much easier.

Chantelle S

Sam O'Neill, and the new lender he identified for me, worked tirelessly together using my time constraints, to make sure my mortgage application was completed on time. They are a brilliant company to work with, fast, efficient, open and transparent from the very beginning, and turned a seemingly impossible situation into a viable one. Sam was brilliant throughout the whole process and I would highly recommend him, and his colleague Helen, to anyone without hesitation, I cannot speak highly enough about them.

Myr B

I was incredibly lucky to find Clifton Private Finance after a search on line as their service has been more than exemplary. My point of contact was Sam 0’Neill and he was happy to help at every stage during the application of the bridging loan, making a stressful process much easier to deal with. He was always available by phone or email and gave prompt answers to queries I had as well as always getting back to me when he said he would. That to me is excellent customer service and I cannot thank him personally or the company enough for the support they have given me.

C Jefferey

Adam cannot thank you enough for all your support throughout this arrangement. You have gone more than the extra mile to support us. Without you we would not have got our dream retirement home. You have been most professional and personable. Liz and I would be more than happy if you wanted to use us a reference with respect to any future clients.

Nigel & Liz K - Bristol

You have certainly shown me that you do everything for your clients, including tolerating their excessive emails and questions for updates. I have been kept in the loop, from yourself, about why the delays were occurring (Nationwide, post etc) which I would like to highlight that I really appreciated. I certainly will be able to recommend you to others as and when the need arises.

Mr Morris

I recently contacted Clifton Private Finance after a Google search for bridging finance providers and was immediately struck by their efficiency and support. Forms were emailed over almost immediately and the necessary finance was arranged within a few days. None of the other companies I contacted came close to their professionalism, and the quote that I eventually received was impressive. Thank you Adam, your help has enabled us to reserve the house that we wanted and I certainly recommend you to others.

Mr M. R. - Oxford

Absolutely brilliant. The service was first class, got everything sorted efficiently and were always friendly. Any fees were negligible compared to the service offered. Robert was particularly outstanding.

Charles N

My advisor, Robert, was very helpful in finding the mortgage to suit me. He kept me up to date throughout the process and dealt with any issues when they arose.

Rowena C