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Crane Finance
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Written by James Dutton
James is Head of Asset Finance in our funding division. He specialises in arranging finance for assets across a range of sectors, as well as experience in completing finance agreements for assets coming from abroad. James has more than 30 years of experience in the finance sector, providing him with the necessary expertise to arrange finance for businesses requiring finance facilities across the UK.
Finance your crane
Whether you're lifting steel on a high-rise build or managing heavy loads across a busy civil engineering site, having the right crane for the job is imperative.
With so many types and configurations available, including mobile and crawler cranes, as well as tower and rough terrain models, identifying the right model can be difficult.
That's where our dedicated construction finance team can help you with your finance agreement, whether that's hire purchase for a crane, a finance lease, or asset refinance agreement for a crane your business already owns outright.
Whether you're adding to your existing fleet or purchasing your first crane, we'll help you find a funding solution that keeps your projects moving and your cash flow intact.
We can also arrange finance for other construction equipment including excavators and dump trucks.
What is crane finance?
Cranes are one of the most significant investments that a construction business can make. Whether you operate tower cranes on high-rise developments, mobile cranes across multiple sites, or a specialist crane fleet for infrastructure projects, acquiring this equipment outright places considerable pressure on your finances.
UK Business Finance can arrange finance for the purchase of a new or used crane, covering a range of crane types and configurations. We can also structure a refinance agreement against equipment your business already owns, giving you access to capital without having to sell the asset.
Your business can choose the arrangement that best fits its financial position and operational requirements, ensuring the finance agreement is sustainable throughout.
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Benefits of crane finance
Protecting your cash reserves: Cranes represent a large single asset purchase in the construction industry. Financing this cost rather than paying for it in full upfront means your business retains access to working capital for materials, labour, and the ongoing costs of running a project. A structured repayment plan gives you the opportunity to purchase the crane you need, whether that is a mobile crane or tower crane, without draining the funds your operations depend on.
Unlocking capital through refinancing: If your business owns cranes or other heavy plant outright, crane refinance allows you to release a percentage of that value as a lump sum. The asset is transferred to the funder and leased back, so you keep full use of it throughout the agreement. Once all repayments have been completed, ownership returns to your business. This approach can be useful when you need to free up capital for a new contract, cover unexpected project costs, or invest in growth.
Predictable monthly commitments: Crane finance agreements are built around fixed repayment schedules, which means you know what you owe and when. This makes it straightforward to incorporate into your monthly outgoings and forward planning. For construction businesses managing multiple contracts simultaneously, this level of financial visibility is particularly valuable.
Investing in higher-specification equipment: Finance provides a practical route to acquiring cranes that might otherwise be out of reach at the point of purchase. Access to newer, higher-capacity, or more technically advanced equipment can improve the quality and scale of work your business is able to take on, without requiring a significant amount of capital to be committed at the outset.
Terms built around your business: Repayment structures can be adjusted to reflect your business's financial profile. This ensures that your business can arrive at an arrangement that is sustainable and suited to your income patterns. This flexibility allows construction businesses of different sizes to access crane finance on terms that work for them.
How we helped a crane hire business
A Yorkshire-based crane hire company contacted UK Business Finance to arrange funding for a new crane to replace an ageing model within their fleet.
The client required a hire purchase solution that would allow them to acquire a crane with a greater lifting capacity, without placing unnecessary strain on day-to-day cash flow or working capital.
A key challenge was that the crane was being supplied by a manufacturer based in mainland Europe, which limited the number of funders able to support the deal. Drawing on our extensive panel of lender relationships, we were able to identify a funder comfortable with the cross-border transaction, who purchased the Euros on the client's behalf and paid the supplier directly upon the asset arriving in the UK.
We were able to arrange £680,000 in funding for the client on a hire purchase basis over a 60-month term.
The client was delighted with the outcome, with the new crane allowing them to expand their hire fleet with a more technologically advanced and reliable model, improving the range of equipment available to their customers.
Apply for crane finance
As a commercial finance broker, UK Business Finance has built strong relationships across a wide network of lenders, enabling us to pinpoint a finance solution that is suited to the demands of your business.
Here is how we can help:
- Generate a free quote in 60 seconds
- Benefit from our diverse lender panel to identify the most competitive funding available
- Our team takes full ownership of the application, dealing directly with lenders
- A highly skilled team with proven expertise in finance, focused on securing the right outcome for you
For more information on dump truck finance, please contact our specialist finance team.
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Our team of finance experts can provide industry-leading advice on finance options to suit a range of different scenarios. Call the team on 0808 301 0624 or Contact Us
What finance can be used for crane finance?
Cranes are among the most expensive assets a construction or lifting business can acquire, which can make financing them a potential choice for a wide range of firms. Asset finance and finance leases offer a way to bring new cranes into operation through manageable monthly payments, while refinancing can unlock capital tied up in equipment already on the books.
UK Business Finance can connect crane operators and construction firms with lenders suited to their needs. From single tower cranes to larger fleet additions, our team will manage the finance process on your behalf.
| Asset Finance | Asset Refinance | Finance Lease | Unsecured Loans | |
|---|---|---|---|---|
Typical term length | Medium Term | Medium Term | Medium Term | Short Term |
Flexibility | Medium | Medium | Medium | High |
Deposit required? | Yes | Yes | Yes | No |
Purpose | Purchase assets | Raise capital for multiple ventures | Lease assets | Multiple business needs |
How do we work?
1. Get a Customised Quote
When you reach out to us, we will likely request that you provide the following information. Your latest set of accounts, previous 6 months’ banks statements and director’s personal details.
2. Compare Options
Once the information from step 1 has been confirmed, we will reach out to our extensive panel of funders, who under normal circumstances, respond with an answer in 48 hours. After this, Know Your Customer (KYC) and identification checks will take place for the business and its directors.
3. Finalise the agreement
As soon as you agree to move forward with the terms and conditions, you will receive the relevant documents for you to sign and then return. After the final checks have been completed, the funds will be released. The time taken to release the funding varies depending on the funder, ranging from 24 to 72 hours.
Why does your business need crane finance?
The cost of crane ownership can be significant. A well-structured finance arrangement means businesses can secure the right equipment for the job without concentrating a large portion of their capital in a single asset.
- Preserve working capital
- Upgrade to newer crane technology
- Spread the cost over a fixed term
- Tailor repayments to your business
- Expand your fleet capacity
- Refinance equipment you already own
- Avoid large upfront expenditure
- Support project delivery timelines
Why Choose UK Business Finance
100% Independent Broker
We're not tied to any lender. With access to 90+ finance providers, we match you with the most suitable funding solution, not the one that pays us the best commission.
Callback Within 30 Minutes
From the moment you contact us, we commit to responding within 30 minutes. When your business needs funding fast, every hour counts.
Nationwide Coverage, Local Expertise
With 8 regional offices and 100+ supporting locations across the UK, you'll work with a finance specialist who understands your local market.
Crane Finance FAQs
What types of cranes can I finance?
Finance is available across a broad range of crane types, including mobile cranes, tower cranes, crawler cranes, and telehandlers with lifting attachments. Whether you operate in construction, civil engineering, or heavy haulage, we can help arrange funding for both road-going and site-based lifting equipment.
Is it possible to refinance a crane already own to release working capital?
If your business owns a crane outright, refinancing it can be a practical way to unlock capital tied up in the asset without disposing of the machine. The funds released can be used for a range of business purposes, from covering operational costs to investing in additional equipment. Eligibility will depend on the age and condition of the crane and its current market value.
How much can I borrow to finance a crane?
Cranes vary considerably in value, from smaller mobile units to large capacity crawler cranes, and lenders on our panel are accustomed to financing equipment across the board. The amount available will depend on the value of the asset, your business financials, and the lender's criteria. We'll work to present your case in the strongest possible light.
Does the project-based nature of crane work affect how repayments are structured?
Some lenders can accommodate irregular or seasonal income patterns common in contracting and civil engineering work, including seasonal or project-aligned repayment schedules. Structuring repayments to reflect when contracts complete and cash comes in can make a real difference to day-to-day cashflow management.
Can I finance a used crane?
Yes, used cranes are financeable, and many operators find value in well-maintained second-hand machines. Lenders will consider the age, condition, lift capacity, and current market value of the crane, so having a recent inspection report or service history to hand will strengthen your application. We work with lenders who understand the resale market for lifting equipment.
Can I finance a crane if I'm looking to expand my lifting fleet?
Whether you're adding a second machine to meet growing demand or diversifying your fleet with a different crane type, lenders are generally well placed to consider applications from businesses looking to scale. An existing track record with similar equipment can work in your favour, and we'll help you put together an application that reflects the case for the investment.
