eQuip - Residual Value Guarantee
Do you already work in the recycling sector? Or are you thinking about setting up a new operation? If so, you may be aware how difficult it has been to lease vital machinery and equipment in a relatively new and unproven area - until now that is!
We have set up the eQuip Residual Value Guarantee (RVG) Scheme to help recycling companies secure the financial help they need.
The eQuip RVG Scheme guarantees the future residual value of the machinery needed and has set up a panel of banks and leasing companies who will consider leasing to the recycling sector.
RVG's are available to recycling companies operating in the glass, plastic, wood, paper, aggregates, tyres, batteries, plasterboard and organic sectors.
How can eQuip help my business?
- Leasing is an additional line of credit for your business; allowing you to spread payments over a fixed term related to the life of the equipment. Terms are also negotiable and can be tailored to meet the expected cash flow of your business.
- Under eQuip, WRAP will guarantee the future value of the equipment you want to lease, which has the effect of reducing your regular payments. The value of the eQuip guarantee will relate to the expected market conditions for disposing of the specified equipment at the end of the agreed lease period.
What other benefits apply?
- Unlike overdraft facilities, lease facilities are not generally repayable on demand or subject to annual reviews. You can be sure that as long as you can make payments and honour the terms and conditions of the contract, the lease facility is secure. You will also have the option of fixed or variable rates of interest.
So how does it work?
- Recognising that fast financial decision-making is crucial for many small and medium-sized businesses, the eQuip scheme has been designed to process applications as quickly as possible. Applications for equipment up to £250,000 will be processed within one month, with applications exceeding this taking a maximum of six weeks from receipt of the completed application form.
- The RVG scheme is open to businesses demonstrating strong market demand for their product or service. These can be small and medium sized businesses throughout the UK and large companies whose process can be demonstrated to be incorporating the newest and most advanced technology. For further advice on applications from larger companies, please contact Cranmer Lawrence and Company Ltd.
Who is eligible?
- To be eligible, current or planned business activity must be one of the following:
a) sorting, reprocessing or recycling of glass, plastic, wood, paper, aggregates, tyres, batteries, plasterboard or organic waste materials, or
b) collection technology or infrastructure that is specifically designed to enhance the above, or
c) manufacture of products incorporating recycled glass, plastic, wood, paper, aggregates, tyres, batteries, plasterboard or organic waste materials.
eQuip Scheme Exclusions:
- The eQuip RVG is not available to companies who plan to use their plant or machinery for the production of fuels for energy production or who intend to use their plant or machinery to generate energy from waste.
- The eQuip RVG is also not available for standard vehicle leasing.
- In addition, whilst second hand equipment can be guaranteed through the scheme, equipment cannot be re-leased or sold and leased back.
To download an application form please submit your details on this form:
Download the eQuip Application Form
