PODAB - Drying Cabinets & Drying Rooms
Tel: 020 8936 7083 Email: mail@podab.co.uk
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Podab UK is able to offer competitive finance arrangements via our partner finance companies, to both new and existing customers in the UK. Take a look at our options below.

Recovery Loan Scheme

We’re proud to be able to offer the Recovery Loan Scheme (RLS) to our clients – facilitating UK businesses with a much-needed funding boost as a result of the Coronavirus pandemic.

Scheme details

  • You can apply to the scheme if COVID-19 has affected your business. You can use the finance for any legitimate business purpose – including managing cashflow, investment and growth.
  • The amount you can borrow depends on the type of finance you apply for: asset finance starting at £5,000, up to a maximum facility of £249,999, and term loans starting at £25,001, up to a maximum facility of £249,999.
  • Personal guarantees are not required for facilities of £250,000 or less.
  • The maximum length of the loan depends on the type of finance you apply for: up to 3 years for overdrafts and invoice finance facilities, and up to 6 years for loans and asset finance facilities.
  • The scheme will run until 31 December 2021, subject to review.
  • Businesses that have taken out a CBILS, CLBILS or BBLS facility are still able to access the scheme, although the amount you have borrowed under an existing scheme may limit the amount you may borrow under RLS.
  • To apply for the scheme, you must meet an eligibility criteria, which you can see here.

For more information relating to the scheme, guidance on the application or any questions you may have, please contact us.

Super Tax Deduction

The Government announced a super-deduction tax in their 2021 Budget to encourage businesses to invest in productivity-enhancing plant and machinery assets that will help them grow.

From 1 April 2021 until 31 March 2023, companies investing in qualifying new plant and machinery assets will be able to claim:

  • a 130% super-deduction capital allowance on qualifying plant and machinery investments
  • a 50% first-year allowance for qualifying special rate assets

Scheme details

  • Any company that pays corporation tax and purchases plant or machinery assets after 1st April 2021 can qualify for the tax incentive.
  • The capital investment must be in new and unused plant and machinery.
  • Assets can be funded via a hire purchase agreement but cannot be leased, as ownership of asset must be demonstrated.
  • The super-deduction tax incentive lasts until 31st March 2023.
  • Sole traders, partnerships and LLPs do not qualify.

For more information relating to the tax incentive, guidance on the application or any questions you may have, click here or please contact us.

Leasing

Equipment can be financed over 2, 3, 4, or typically, a 5 year period, either by a Lease Rental or Hire Purchase agreement.

For established businesses, typically all that is required is one month’s rental in advance as a deposit.

For new start companies, the deposit and guarantee requirements will be different than for established companies, but please do contact us to discuss your options.

Written details and quotations are available on request. All arrangements are subject to status.

Speak to us today about our finance arrangements on 020 8936 7083 or This email address is being protected from spambots. You need JavaScript enabled to view it..

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