From a portable extractor to a van-mounted system, carpet cleaning equipment ranges from too small to finance to a substantial asset.
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It depends on scale. A single portable carpet extractor is usually too small to finance on its own and most funders will not look at it. A truck-mount or van-mounted extraction system is a different proposition — it is a substantial, serial-numbered machine with a used market among cleaning contractors, and it funds well on hire purchase. Used systems are fundable through specialist dealers. The point that catches contractors out is the van: the system and the vehicle are usually two separate assets and often two separate agreements.
Used kit: Yes for truck-mount systems through specialist dealers; rarely for used portables, which fall below most funders’ minimum advance.
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Business asset finance is quoted on a flat rate, so that is what this shows — with the equivalent APR underneath, because the two are not the same number. A quick guide only; your actual rate depends on the asset, term, deposit and lender.
Representative example: on Hire Purchase, borrowing £25,000 over 48 months at a 6.0% flat rate (equivalent to 11.5% APR representative), you would repay around £646 a month; total amount repayable approximately £31,000, of which £6,000 is the cost of finance. This calculator is for illustration only — it is not a quote or an offer of finance, and the rate and repayments you are offered will depend on the asset, term, deposit and your circumstances. CW Asset Finance is a credit broker, not a lender, and may receive a commission from the lender that funds your agreement. All finance is subject to status, affordability and lender approval. CW Asset Finance is an Appointed Representative of Rural Finance Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 630701).
Carpet cleaning equipment shows the size threshold that runs through soft asset lending. A portable extractor is a low-value, highly portable item with no serial-number discipline and a thin used market — funders will not write it alone, and contractors normally buy those from trading income. A truck-mount system is a genuine asset with an identifiable unit, dealer support and buyers, so it attracts real appetite. Where contractors run into difficulty is the combination: a van plus a mounted system is two purchases, and if the van is financed separately the funder for the system will want to know how the two fit together. Mounting the system also alters the vehicle, which matters if the van is itself on finance. Contract length is the other question, as with all contract cleaning businesses.
Examples of the machines we are asked to fund. This is not an exhaustive list — if what you are buying is not here, it does not mean we cannot fund it. Your supplier quote is what the agreement is written against.
| Machine | What it is |
|---|---|
| Prochem Steempro Powerplus | Portable hot water carpet extractor |
| Prochem Everest truckmount | Van mounted carpet cleaning system |
| Prochem Galaxy extractor | Commercial carpet cleaning machine |
| Numatic George GVE370 | Compact wet and dry extraction vacuum |
| Numatic CT900 carpet extractor | Commercial spray extraction machine |
| Karcher Puzzi 10/1 | Spray extraction carpet cleaner |
| Karcher Puzzi 30/4 | Large spray extraction machine |
| Ashbys carpet extractors | Professional carpet cleaning machines |
| Nilfisk spray extraction machines | Commercial carpet and upholstery extractors |
| Truvox Hydromist carpet extractor | British-built carpet extraction unit |
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Typically a carpet and upholstery cleaning contractor moving from portable machines to a van-mounted system because job times and drying times are costing them work. Facilities and janitorial contractors buying a fleet of portables for a large site contract are the other case. The trigger is usually a commercial contract with specifications a portable machine cannot meet. Hotels and student accommodation providers buying in-house machines make up a smaller group.
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Bought on hire purchase, business plant and machinery normally qualifies for capital allowances on the full cost even though you pay for it monthly, which is a large part of why hire purchase is the common structure. On a finance lease you generally set the rentals against profit instead. The rules change between budgets and your position depends on how you trade, so treat this as the direction of travel and get your accountant to confirm the detail before you commit.
Because the advance is below the point where an agreement makes commercial sense for a funder, and the asset is small enough to disappear. Documentation, underwriting and administration cost the same regardless of size. Portables are normally bought outright or added to a larger order of equipment.
Sometimes, where one funder is willing to cover both, but often they are split because vehicles and equipment are underwritten differently. If the van is already financed, check whether cutting and mounting the system affects that agreement, since altering a financed vehicle usually needs the funder’s consent.
It narrows the market, because a van cut for a mounted system suits buyers who want exactly that. That is relevant to whoever holds security over the vehicle. Many contractors accept the trade-off because the productivity gain outweighs the resale consideration over the life of the van.
A batch order for a contract can reach a fundable size where a single machine cannot, and that is a reasonable way to approach it. Funders will ask about the contract behind the purchase, since the machines are being bought to service specific work rather than for general use.
Potentially, given these systems hold value and are identifiable by serial number. A funder would want ownership evidence, the serial number, age and condition. It is far more realistic than refinancing portable equipment, where there is effectively no lending market at all. Expect any advance to reflect current market value rather than the original purchase price, and expect questions about how much work the system has done.
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Not an offer of finance. All finance is subject to status, affordability and lender approval.
Tell us what you’re looking to fund and Conor will come back to you personally — usually the same day.
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A decline from one lender reflects that lender’s appetite, not the whole market’s.