Finance for Private Schools
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As a private school, all business activity must be measured around results. With the weight of parental expectations on your establishment, each pound spent in your business should be driven towards growing your educational offering, recruiting experienced staff, and even developing new facilities.
All of these carry considerable costs, which may be a challenge for you to fund due to the revenue model many independent schools carry. However, there are plenty of options available in the lender’s market that can help you.
Private schools are viewed in the same way as other types of business in the UK, meaning you’re able to apply to banks and other lenders for financial support. What that support looks like will depend on your unique requirements, the strength of your application and the type of loan you want.
If you need help making sense of all of the options available and want support in finding and receiving a loan to help you grow, Rangewell can help. We’ll act as your finance expert, guiding you through the best choices and negotiating a loan on your behalf. Get in touch now to get started, or read on to learn more about how business loans can benefit private schools.
Funding options for private schools
There are many different types of loans, though many are similar in structure. The most common form of finance is a business loan, where you’ll borrow money with an agreed timeframe to make repayments plus interest. However, private schools have complex requirements, and other forms of finance may be more applicable. Here are just a few of the scenarios in which finance can help you.
Asset finance for equipment
If you’re purchasing a new suite of equipment for your private school, asset finance provides an affordable route to ownership that won’t impact your capital reserves in the same way as buying them outright.
Asset finance sees you lending against the value of the assets, whereby a lender purchases the equipment, and you pay them back monthly across an agreed timeframe. This also protects the lender’s investment as they can take security over the equipment. Ultimately, this leads to asset finance loans often being a competitive, cost-efficient option for any private school investing in new equipment or machinery.
Visit our asset finance page to learn more about how it works and apply today.
If you experience any disruptions in receiving student fees, or you’re hiring a number of employees at once, you may not have the cash reserves needed to pay for your new staff. Considering private schools rely on expert staff to maintain the school’s reputation by delivering exemplary levels of education, you simply cannot afford to miss paying staff wages.
Private lenders can help you by stepping in to offer business loans or working capital loans, which grant the funding you need in a rapid timeframe and then spread the costs across a more convenient timeline for you.
Don’t let a cashflow gap damage your reputation. We’ll help you arrange a working capital loan to help keep your school running until student fees bridge the gap. Click here to learn more.
Purchasing new land or property
Private schools that experience rapid growth may have to purchase nearby properties for expansion or relocate entirely. If you need to, then commercial property finance can serve as the ideal solution for your needs.
In a property finance agreement, you’ll receive a loan in much the same form as a domestic mortgage – where you’ll need to place a deposit and then borrow against the value of the purchasable property.
However, having someone on your side during this type of arrangement is highly valuable. Some lenders will offer better deals for private schools that can prove the added value of the finished building, often discounting interest rates or asking for fewer securities if your application is strong.
You’re already experts in education, so leave the finance side of things to Rangewell’s team. Contact us now, and we’ll help you navigate property acquisition for your private school and secure the finance you need to make it happen.
Refinancing existing loans
Do you have an existing loan that doesn’t serve your private school effectively? If repayments are too high, you’ll have impaired cash flow compared to other competing schools. You can refinance your existing loan into a longer-term agreement to reduce repayments. Rangewell can help you do that, but we can also reduce your overall interest rates, renegotiate particulars such as securities or personal guarantees and much more.
Don’t get stuck with the same debt in a new school year. Make your finance agreement work for you by choosing to refinance with Rangewell.
Private school loans from Rangewell
Whether it’s cash to bridge a working capital gap or funding that will be used to grow your school, finance can unlock great potential for your private venture. Work with Rangewell, and we’ll work with you to determine the most efficient option for you. Get the cash you need to make future-focused decisions.
Looking for finance for your convenience store? Regardless of whether you run one shop or ten, we can help. Contact us today to learn more and start your business loan application with our dedicated team.
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