IT and finance will converge ... a tipping point for the CFO's involvement with IT

McKinsey & Company


Providing fully approved and
compliant finance solutions,
ensuring equipment is
available when


The Virtue approach

The real value of ICT comes in its use. There is little value in actually owning your ICT resources due to rapid improvements in technology and depreciation. That is why traditional purchase schemes can mean educators and learners are deprived of access to equipment when they need it most. To ensure this never happens, we work closely with schools and colleges to provide fully approved and compliant finance solutions that ensure equipment is available when needed.

We recognise that every school’s financing requirements are different, that is why we have created a portfolio of leasing solutions including:

  • Operating leases
  • Finance leases
  • Lease / hire purchase
  • Contract hire
  • Laptop schemes – with or without parental / student contributions

Appropriate funding of assets is the backbone of any successful institution as it will help to maximise cashflow and keep spending within budget. We start by getting a solid understanding of the context and parameters in which you work. This then enables us to propose the right solution.

Operating leases

There were changes made to the schools borrowing regulations in April 2010 and this affected the types of leases schools can sign. Schools funded by the local authority can only utilise an operating lease. No other lease such as finance lease (lease rental) or a hire purchase may be entered into by a school as this is a form of borrowing.

The operating lease Virtue offers is cost-effective and compliant with accountancy guidelines.

Local Authority controlled schools are pre-approved for operating leases from £1,000 up to £250,000.

Finance leases

This is a traditional lease where the equipment you require is purchased by the lender and the establishment pays a series of rentals to use the asset for the term of the agreement. Equipment ownership remains with the lender.

At the end of the arrangement the school can either hand the equipment back or purchase it for a nominal sum.

Lease/hire purchase

A lease/hire purchase is similar to a finance lease in that the establishment will make a series of payments during the agreement while using the equipment. The major difference is that ownership of the equipment passes to the establishment at the end of the agreement.

Contract hire

With a contract hire agreement the establishment hires the required equipment for a specified period and during this time makes payments to rent it. During this time ownership is maintained by the finance company that is responsible for its maintenance.

Laptop schemes

Typically, a non-profit making scheme run by a school to give its students access to hardware and software discounts achieved by bulk purchasing. We can help you design and fund your scheme as well as providing the necessary hardware and software.

Whatever your finance requirements Virtue can help, please contact us to discuss your needs.