Exciting news! The UK government has recently approved the use of asset finance for schools to fund essential equipment. This groundbreaking development allows equipment suppliers to offer flexible financing options to schools, enabling them to upgrade and enhance their facilities and resources.
Key Benefits for Schools
By utilising the acquisition of various essential items through asset finance, schools are able to improve and expand their facilities without large upfront costs. The types of equipment that can be acquired through asset finance include:
- IT and Telephony Equipment
- Computers, laptops, servers, and telecommunication systems
- Catering and Cleaning Supplies
- Commercial kitchen equipment, dishwashers, and cleaning machines
- Furniture and Bathroom/Sanitary Items
- Classroom desks, chairs, office furniture, and bathroom fittings
- Gym and Groundskeeping Equipment
- Fitness machines, sports equipment, lawnmowers, and gardening tools
- LED Lighting Systems
- Energy-efficient lighting solutions for classrooms, hallways, and outdoor areas
- Minibuses and Other Vehicles
- Transport for school trips, sports events, and other activities
- Temporary Classrooms and Related Structures
- Modular buildings and portable classrooms to manage space requirements
These new rules apply from April 2024 for Maintained Schools. Maintained schools include Community schools, Foundation schools, Trust schools and voluntary aided schools that are all funded by the Local Authority.
New rules for Academies apply from 1st September 2024. Academies are funded by the Local Authority and run by an Academy Trust.
If you require any further information on how Asset Finance can help your School, please complete the details below and we’ll call you back.
