Exciting Changes allowing LEA Funded Schools to Finance

Plus Finance have worked with Academies for many years helping them finance their equipment and furniture projects.

We are delighted to report that recent changes in accounting policy, together with advice provided to schools from the Department for Education (DfE),  means we are now able to provide lease facilities to eligible LEA schools.

The DfE has provided schools with a specific list of assets they are allowed to finance without the consent of the Secretary of State for Education which includes:

• Furniture
  
• Bathroom and sanitary items
  
• Catering and cleaning equipment
  
• Gym equipment
  
•  IT equipment
  
• Telephony
  
• LED lighting
  
• Minibuses and other vehicles for use of the school
  
• Temporary classrooms and equivalent structures

The application criteria are very straightforward – we just need the exact name of the school and the project value.  Facilities can be approved within 24 hours and the paperwork just needs to be signed by 2 signatories, e.g. the Head and the Business Manager.

With the need for more schooling in the UK and the inevitable growth in the number of new nurseries and primary schools, this development is exciting for those involved in providing fitout and equipment to this sector.

Plus Finance specialises in arranging asset finance for all commercial customers buying furniture and equipment, and refurbishing their working environments. We are the UK’s market leader in this particular arena and work with 25 different underwriters / funders.  We are in an ideal position to work alongside school and contractors to ensure projects can be facilitated quickly and efficiently.  Please contact us for further information.