Waste & Resources Action Programme (WRAP) has appointed 10
new lessors to its eQuip residual guarantee scheme. They join the
10 existing panel members and will assist in guaranteeing asset
finance as the re-cycling sectors grows in importance.
The eQuip panel now also includes Close Asset Finance,
Clydesdale Bank, De Lage Landen Leasing, Fortis Lease UK, HSBC
Equipment Finance UK, ING Lease UK, JCB Finance, KBC Lease, Triple
Point Investment Management LLP and Vision Asset Finance.
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The eQuip scheme was launched in 2004 to stimulate investment in
the re-cycling sector and is managed by Cranmer Lawrence &
Company on WRAP’s behalf. The scheme offers residual value
guarantee on plant and machinery to lessors able to provide
operating leases to re-cycling businesses.
Ian Wardle, head of business support at eQuip told Leasing
Life that WRAP determines the eligibility and level of support
to be provided to the lessor based on the type of asset and purpose
for which the asset will be used. “Negotiation,” he said, “and
agreement of specific lease terms is left to individual applicants
and lessors.”
Wardle said: “Since its inception, some 358 assets have been
guaranteed through eQuip at a value in excess of £21m. These assets
have already diverted three and a half million tonnes of waste from
landfill and the demand for this type of activity is going to grow
rapidly in the next few years. The extended panel of lessors will
help the re-cycling sector keep pace with this demand.”
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