Anyone used RGF to help purchase an asset / machine?

[Garage19]

Anyone used RGF to help purchase an asset / machine?

I'm looking at a machine purchase in the region of £50k. I will be laying down 20% but the finance house have suggested I look at RGF funding for another 20%.

Anyone had any experience of this scheme?

[zoomy]

My experience was that they would provide 30% max depending on your area and your required asset.
We managed 20% but that was the deposit required by the machine builder.
The funding was to be used as the deposit.
If you can afford the deposit why would you need funding was the argument we were given.
The balance 80% was to be financed.
That is how it worked for us
We used HSBC who did everything for us.
It was straight forward and I would recommend them.

Every I think £50k had to generate a new full time employee or safeguard one.

[sparkyb999]

Yes, we used it a couple of years ago and saved £40k on a two machine purchase. We had the questionnaire a year later to prove we retained our staff levels and the machine had improved us to what it was intended, if you tick the criteria boxes then its a must!