We helped a long-established manufacturer of agricultural equipment to develop a new market for its conveyor belt products, which had traditionally been used to handle potatoes and other root crops. The directors had recently diversified into airport baggage handling equipment but the extended product range required further funds.
Our knowledge and good experience of the customer gave us the confidence to provide finance against two existing machines, which the company used to promote sales at shows and events. The directors were also prepared to back their company with personal guarantees. This released much needed cash flow to establish its products and the company is now going from strength to strength.
Loan amount: £234,000