Finance
Many customers aren’t aware that they can finance their education fit-out and furniture costs, however there are many budgeting and cashflow benefits associated with doing this and Pinnacle Furniture are ideally placed to help our clients secure funding.
Benefits of finance
Overcome budget limitations – make the most of your budget by using a lease to spread the cost of your furniture. This means you can select the long-term solution that best meets your requirements, rather than what your short-budget dictates
Fixed payments for accurate budgeting – unlike other methods of finance, payments are fixed for the duration of the lease period, eliminating unexpected variations such as increases in interest rate
Flexible – you can pay quarterly, monthly or per half-term to suit you. If your needs change, you can add to your existing lease at any point during the rental period
We are specialists in the educational furniture and fit-out industry and have a wide range of funding partners that we work with
How Does It Work?
- Final budget/scope of works agreed
- Finalise agreed project dates
- We send you a quote based over a 1 to 3 year term
- We obtain credit clearance
- You sign the agreement
- We finance the work directly
Underwriting Criteria
We will only consider schools and academies rated by OFSTED as good or outstanding, those which are satisfactory must have some positive trends. We will not consider those which are unsatisfactory or in special measures. We base our maximum annual payment on a combination of student numbers and the type of school (Primary / Secondary). We assume income per pupil of £4,000 for Primary and £5,500 for secondary and will approve 2.5% of the total annual income as a repayment. We reduce that by 0.1% for every 5% it is below capacity in the current school year. In addition, the school will need to be at 80% capacity.
NOTES: There must be no transfer of ownership of the furniture to the lessee. There must be a genuine residual value. We will need a letter from the Board of Governors. 3 year maximum term
Resources
Importance Of Library & IT Facilities Highlighted
A recent study has shown that library and IT facilities are more important to students than social spaces such as pubs. The survey showed that nearly two thirds of those surveyed chose the facilities quality as being key to their university choice.
Find out more
How Can I Finance My Furniture Needs?
Pinnacle Furniture has so far supplied over £1 million worth of furniture through finance to Schools and Colleges, helping them to create a learning environment that is both inspirational and practical without the stress of having to budget for costs.
Find out more