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Quinto Crane & Plant LtdConstruction finance case study

Supporting British business

Working within the highly competitive industry of crane and contract lifting, Quinto is a well- established business that is always looking ahead.

The East Anglian based company has been a regular return customer with Paragon for several years after building a strong working relationship with our Commercial finance team.

Quinto was established in 1977 in East Anglia with a name that reflected its five depots in Peterborough, King’s Lynn, Norwich, Ipswich and Chelmsford.

Since then, the business has expanded its service offering, providing crane hire, contract lifting, machinery moving and specialist transport for building contractors, construction companies, local authorities and private firms nationwide.

When it recently set about growing further and replacing ageing machines by adding three new cranes to its fleet, Quinto’s owner Oliver Arnold once again worked with Paragon to gain quick and easy funding.

Finance was gained to buy Liebherr machines – two LTM1040 mobile cranes, each with a long four-piece telescopic boom that can be extended; and a LTM1060, useful for high load capacities and with a special ballast plate configuration to handle a wide range of driving conditions.

Stuart Catchpole, Business Manager at Quinto, said: “Crane hire and lifting is a competitive environment and we pride ourselves on our core values of professional, quality and safe lifting. The investment in more cranes is part of our ongoing growth vision.

"We now have 33 cranes and 100 employees and have been moving the business on to reinvigorate the brand so it reflects these core values in everything we do.

“Quinto wants to be the first choice in customers’ minds when they need a crane and the relationships we develop across our customer and supply chain provides an important platform to help us meet this vision.”

How Paragon helped

Paragon has built up a long-standing, solid working relationship with Quinto to help fund a variety of machinery since 2016.

The Commercial finance team has repeatedly used its specialist knowledge to arrange support including over £1.2 million of funding in one year alone to enable Quinto to purchase the three Liebherr cranes.

Oliver Arnold, Quinto owner, said:

I was very pleased with the great service we received from Paragon, it was a fast, smooth and efficient process

Paragon prides itself on arranging swift, bespoke finance that suits the business we are dealing with - and we don’t shy away from complicated deals.

While standard loans are three to five years, we can arrange loans for longer than that, especially as depreciation values are low for cranes, which have a lifespan of around 30 years or more.

Our aim is to make life easy for the customer and vendor.

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Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551