For a sector that is already facing myriad challenges when it comes to managing budgets and saving money, specialist help is available from one of the leading names in the finance world, headed up by an expert in leasing technology for education.
Steve Bellamy has joined Arkle Finance in Wellingborough, part of Weatherby’s Bank, as Broker Development Manager and is channelling his passion for technology in education into helping local schools source and manage the leasing of the equipment they need to continue to educate their students and prepare the workforce of the future.
Arkle Finance specialises in asset finance and leasing, helping organisations large and small, obtain the equipment, vehicles and assets they need to grow and develop, and has long stated its commitment to supporting the education sector.
Arkle was established in 1997 as part of Weatherby’s Bank, which traces its roots back more than 250 years, and offers a wide range of financial products, each tailored to suit customers’ specific needs.
Steve said: “One of things schools find most difficult is understanding what they are getting into when they enter into lease agreements. They are spending public money and have a limited budget and they need to absolutely trust in their lease agreement. Part of my work is to make sure everything is transparent and compliant and that they are fully aware of what they are entering into.
“Many lenders don’t outline the options from the start and that can make people feel very uncomfortable. We are upfront from the beginning.”
What that means is that the school taking out a lease for equipment – anything from smartboards and laptops, to catering equipment and classrooms or a minibus – sees an outline of what will happen at the end of the term of the lease. If they understand that in, say, three years’ time, they will have the option to hand the equipment back and replace it, taking out a new lease agreement; or, if they prefer, to carry on the payments and retain the equipment because it is still serviceable, there’s security in knowing that the decision is theirs.
Steve has around 20 years’ experience in the education sector, how it operates and the challenges it faces, having worked in brokerage and then for the leasing arm of a bank, establishing its education leasing programme from scratch. When that bank closed its UK operation, Steve took the opportunity to put his specialism to good use. He was vice chairman of the board of governors at Tresham College before it became part of the Bedford College Group and chaired its audit committee.
Arkle Finance as a whole is also keen to continue to build its relationship with local schools, offering internships and apprenticeships as much as possible, and sending speakers into schools to talk about the opportunities available in the world of finance.
“Banking really can be for everyone,” said Steve. “It’s the financial sector, but within banking you have HR, technology, data processing, etc. and we want to show how there’s no defined path in banking, there are so many different roles and skills sets.
“I’m passionate about technology in education. If students are using equipment that’s too old or substandard, how are they going to be ready for the workplace? But then, if a school has to choose between upgrading equipment and giving staff a pay rise, the fact is that is an either/or and something has to give. If the school can lease equipment at the spec it needs at a reasonable price, and then renew that lease at a similar cost when it comes to upgrade, then it makes budgeting a little bit easier.”
As a relatively new player in the education leasing sector, Arkle Finance is ready to provide not just the lease agreements that help schools, but also to act as a responsible partner with schools and suppliers and help schools plan an asset management strategy and develop their approach to e-learning as well as providing a responsible means of acquiring and disposing of equipment. Starting a discussion about what the school’s needs are – whether every child needs their own device, whether staff are properly trained to teach effectively using technology, and whether older equipment can be repurposed are all areas Steve Bellamy is keen to address in his new role.
“Secondary schools, for instance, usually need technology that is higher spec than that needed in primary schools,” he said. “If schools are confident that when they are done with their equipment it is wiped, so that all data is cleared, and then the device is refurbished, recycled and resold, that is an attractive proposition, especially as there’s a strong ESG element to doing that.
“Our approach is to build relationships that are absolutely based on trust, we want to work directly with the end-user rather than working through brokers or suppliers, so that everything is clearly outlined and explained.”
Find out more about Arkle Finance at www.arklefinance.co.uk or call 01933 304789.
