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?

  1. Final budget/scope of works agreed
  2. Finalise agreed project dates
  3. We send you a quote based over a 1 to 3 year term
  4. We obtain credit clearance
  5. You sign the agreement
  6. 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

Get in touch

We would love to hear from you about your project! Give us a call, send an email or use the form below, we are always keen to share our expertise and answer your questions.

020 8641 4444

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