At Crispcap, we’ve secured many scaffolding business loans and this month has been no different.

Only last week, we arranged Sam at Firth Scaffolding LTD a £10,000 unsecured business loan. He’s using the funds to buy essential material for his upcoming jobs.

Instead of shelling out thousands of pounds a month to rent tubes, fittings, and boards, Sam used commercial finance to purchase the equipment instead. He has reduced his monthly outgoings, plus he’ll keep the kit at the end of the loan term.

Business loans have a variety of benefits for scaffolding companies that want to grow or maintain their operation. Here are 5 primary ways that commercial finance can reduce the stress of running a scaffolding business.

Materials

The right materials are necessary for a scaffolding job, so directors have the option to buy or rent them.

Tubes, fittings, boards, base jacks, and toe boards can cost thousands of pounds. Not to mention PPE equipment for workers like hard hats and high-visibility jackets.

Scaffolding business loans can be an invaluable way of getting capital to purchase essential materials for an upcoming job. You can get the equipment ready without draining your cash flow or causing delays to your operation.

What’s more, equipment finance allows you to own the materials at the end of your monthly payments. This is much more cost-effective than renting and returning them.

Delayed Invoices

On average, a construction company in the UK waits 53 days to get payment after completing a job.

Scaffolders often fall victim to this delay and can be left without funds to support their next project. This can cause interruptions to their workload and hugely stunt their ability to grow as a business.

Business loans can be a stopgap for scaffolding companies to cover unpaid invoices. That means they can quickly fund upcoming jobs without having to wait on payment from a previous customer.

Commercial finance can empower businesses to take more control of their work schedule.

Transport

Vehicles like trucks and vans are essential for transporting tubes, boards, and fittings, but they’re an expensive upfront purchase.

That’s why scaffolding business loans can be a helpful finance option. They can be used to buy vehicles quickly and repay it in manageable monthly instalments.

This can provide companies with transport to accommodate new contracts and a manageable payment plan that works for them.

At Crispcap we’ve helped countless businesses secure finance so they can make essential upfront payments. You can check your eligibility for a business loan in 30 seconds here.

Paying Staff

Despite scaffolding companies having to wait weeks to get payment, their staff expect their wages promptly.

Not paying scaffolding contractors on time can cause a range of issues. This includes legal troubles, a tarnished reputation, and a lack of loyalty from employees. You need to protect your staff with regular wages that arrive on time, even if your cash flow is tight.

Scaffolding business loans allow construction companies to pay their workers even when they’re waiting on an unpaid invoice. As payment applications can be a drawn-out process, business finance can be a helpful buffer to pay workers. In doing so, you’ll maintain your operation and workers’ satisfaction.

TAX and VAT Bills

Small businesses like scaffolding companies are no strangers to unexpected tax bills. Perhaps, the amount is more than they thought, or they haven’t been putting money aside throughout the year.

Paying tax bills in full can be difficult for businesses that need to protect their cash flow. Whether you’ve recently shelled out for new tubes and boarding, or had to repair one of the trucks, a lump sum tax payment can be tough when margins are already tight for the month.

Using a business loan for tax and VAT bills means that they are settled on time and full. Then you repay the loan in monthly instalments for a more affordable payment plan.

That way you’ll stay compliant with HMRC’s terms, and your cash flow isn’t jeopardised.

Are Scaffolding Business Loans for Me?

If you run a scaffolding or construction business, loans can be a helpful way to keep your business growing. They offer an affordable way to make sizeable purchases that your business needs. Whether that’s materials, vehicles, staff or tax bills.

But more importantly, business loans give scaffolders the freedom to make essential purchases without draining their cash flow. They can unlock a wealth of growth opportunities.

You could secure commercial finance for your scaffolding business in as little as 4 hours with Crispcap. Apply for a business loan here or use our loan calculator to check your eligibility.