Triple Point has been approved for accreditation as a lender by the British Business Bank under the Coronavirus Business Interruption Loan Scheme (CBILS)
18 December 20
18 December 20
“Long after this crisis has passed, memories of the inspirational work undertaken by our incredible public services will endure and, in particular, of those selfless NHS workers delivering critical frontline care to our friends, families, colleagues and countrymen.” Jack Rose explains how Triple Point’s leasing and lending strategy has supported the NHS this year.
This year, COVID-19 has mired every aspect of daily life. Families, businesses, care-workers, students and pensioners have faced unprecedented pressures, which has in turn forced us all to reflect on our priorities and the type of world we want to live in. There is now a growing recognition that the financial sector has the power to do more - to deliver sustainable solutions and outcomes for all parties.
Since 2006, Triple Point has operated what is now one of the largest privately-capitalised leasing businesses in the UK. Over the last 14 years, thousands of investors have accessed a trade which has focused on providing high-quality leases, targeting stable and consistent financial returns. The Generations strategy is one of two leasing and lending companies that makes up the Triple Point Estate Planning Service today. It provides business critical funding to public sector organisations and institutions, for example, leasing an ambulance to the NHS.
This year, the NHS has faced one of its greatest challenges - and certainly the largest demand for its services – since it launched in 1948. Doctors, nurses and support staff across the country are working around the clock to treat thousands of patients, many of whom are critically ill. The COVID-19 pandemic has brought into sharp focus the need for high-quality critical care equipment, such as ventilators and ambulances, which can help the health services respond as best they can.
The mechanics of leasing are well-suited to the needs of the NHS and the government at times such as this because such agreements significantly ease capital expenditure strain, but more importantly leasing reduces procurement timeframes and helps get equipment and resources where they need to be much quicker.
For example, in April we fulfilled a request from a regional county hospital to provide ventilators for its Intensive Trauma Unit. In a process which often takes months, we were able to issue the order to the ventilator supplier in fewer than five hours after the lease was verbally awarded to Triple Point.
This is just one example, many of the medical assets financed through leasing that has been essential for managing the COVID-19 outbreak. As well as ventilators and ambulances, Triple Point currently provides a diverse range of assets to the NHS such as hospital beds, sterilising equipment, infusion pumps, and one modular hospital building. As the top lessor to the NHS, financing medical assets worth over £118m, we increased our support this year and have enabled the acceleration of procurement and delivery of essential medical equipment to cope with COVID-19.
We would like to take this chance to say thank all our shareholders for their continued support, especially this year. We are proud to have been able to continue to combine both value for our shareholders with the opportunity to create a real and lasting social impact through our Estate Planning Service that has continued to help support organisations such as the NHS and tens of thousands of businesses throughout 2020.
The Triple Point Estate Planning Service places capital at risk. As with any investment, there is no guarantee that the target return will be achieved and investors may get back less than the amount they invested. Past performance and forecasts are not a reliable indicator of future performance. This financial promotion has been issued by Triple Point Administration LLP which is authorised and regulated by the Financial Conduct Authority no. 618187. Our leasing and lending activities are not regulated activities in their own right.