BRITEEquipment Loan Bank

Equipment Loan Bank

Current setup• Borrow equipment for 12 weeks

• Borrow 3 or 5 items concurrently

(3 stand-alone, 5 merged college)

• Equipment dispatched direct via courier or Special Delivery

Equipment Loan Bank

Current setup

Contract:£495/£750 per year

(standalone/merged college)

Unlimited loans

Pay As You Go:20% of item’s value £50 minimum

Equipment Loan Bank

Current setup

All income goes toward:

• Administration• Purchase of new equipment• Maintenance of equipment

Equipment Loan Bank

Model needs to change – Why?

Take-up reducing each year

• Institutions building up own kit

• Budgets reducing

Equipment Loan BankThree options (BRITE’s thoughts)

1. Kill It

2. High value kit only but

free (to colleges)

3. Status Quo

Advantages Simple. Encourages in house kit bank.Loans still available at reasonable rate.

Model worksMany satisfied colleges.

Disadvantages No access to loans.No try before you buy so more chance of errors.

Reduced access to other kit.Less money to spend on new kit.

Reducing take-up.Does not encourage in-house kit.

Equipment Loan Bank

Your thoughts?