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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.

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 asset you need without draining the funds your operations depend on. 

Unlocking capital through refinancing: If your business owns cranes or other heavy plant outright, asset 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 help businesses looking for Dump Truck 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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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

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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.

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From the moment you contact us, we commit to responding within 30 minutes. When your business needs funding fast, every hour counts.

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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.

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Construction Finance FAQs

What type of construction assets can I finance through your services?

With UK Business Finance, you can finance a wide range of different agriculture assets. These include excavators, cranes, bulldozers, dump trucks, access platforms, scaffolding, and a range of other construction equipment.

What documents do I need to provide with construction finance?

To apply, you will need to provide a range of documents to verify your business’s financial health. Documents to provide often include your business’s latest financial statements, 6 months of company bank statements, full name, address, DOB and homeownership status of all directors.

What are the typical terms for construction finance?

The terms and interest rates may depend on multiple factors, including the age and condition of the asset, the amount being financed, the length of the repayment term, your business’ creditworthiness, current market interest rates and the specific finance product chosen.

What are the eligibility criteria for securing construction finance?

While specific criteria can vary between lenders, generally, you will need to demonstrate that you are a registered UK business, provide full annual accounts, previous bank statements, plus personal details such as full name, date of birth and personal address.  

What are the different finance options available with construction finance?

We can provide solutions including hire purchase agreements, finance leases and asset refinance. As well as this, we can arrange unsecured loans and working capital loans.

How can I increase my chances of securing construction finance?

To boost your chances of approval, it’s important to maintain a good credit score and keep your financial documents well-organised. Demonstrating stable income and a healthy trading history will be beneficial. Reducing any existing debts can also improve your affordability profile. Additionally, clearly outlining the purpose of the finance and how it will benefit your business can help reassure lenders of your reliability.