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First firm gets funds through eQuip

The first firm to acquire equipment through the £40 million eQuip scheme has sung the praises of the Waste and Resources Action Programme (WRAP) project.

Lancashire-based Wyre Waste Management has secured a five-year lease with the Bank of Scotland for aggregate crushing and screening gear worth £220,000.

The eQuip scheme was launched earlier this year to help small and medium-sized businesses get funding for equipment by guaranteeing its residual value.

Wyre Waste Management hopes to recycle more than 200,000 tonnes of aggregates through the two machines it has rented using the scheme.

And the firm is adamant it would not have been able to get its hands on the Extec Screens & Crushers machinery without WRAPs help.

Joint owner Ian Drury (pictured) said: If the eQuip scheme had not been available, we would have had very limited alternatives.

Grants were not available and buying was not an option as we could not afford a big initial outlay of capital. Hire purchase would not have helped us either as we would have needed a large deposit, which we could not afford.

WRAP investment manager Tara Clair added: We are delighted to announce the first leasing deal secured through the eQuip scheme. We have seen a great deal of interest in the scheme since its launch earlier this year.

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