UK Leasing Companies Join Recycling Program

Some of the biggest names in leasing have joined the recycling industry’s program to help businesses finance their plant and equipment.

The eQuip scheme, set up by the United Kingdom-based Waste & Resources Action Programme, to promote lease finance in the recycling sector, has doubled the number of companies on its panel of finance providers from five to ten. 

The expanded panel now includes:  Alliance and Leicester Commercial Finance plc; Bank of Scotland Asset Finance; Barclays Bank plc; BNP Paribas Lease Group; Broadcastle Bank Ltd; GE Commercial Finance, Equipment Financing; SG Equipment Finance Ltd; Singer & Friedlander Leasing Ltd; State Securities plc and Systems Rental UK Ltd.

“This is great news for recycling businesses applying to the eQuip scheme, as having more lessors on board should result in more competitive leasing quotes,” said Susannah McClintock, WRAP’s investments manager. “In addition, there is the potential for these lessors to offer a greater variety of repayment options.”

She added: “This is also excellent news for the recycling sector as a whole. Previously there had been a lack of investment, particularly through asset finance.  However, there has been a substantial shift in perceptions as investors are now aware of the sector’s potential and are very enthusiastic about its prospects.  This is demonstrated by the number of key players signing up to eQuip and actively targeting the recycling industry.”

The eQuip program assists businesses to lease recycling equipment by guaranteeing its future residual value.

WRAP’s eQuip program is available to recycling companies operating in the glass, plastics, organic, paper, wood and aggregate sectors.