Technology Finance at UTB continues to go from strength-to-strength as the market becomes more familiar with the products we can offer and how it can benefit our brokers’ customers and their reseller partners. Our product offering suits the full SME market and on this occasion a large UK services firm wanted to renew their enterprise business software contract and wanted specific payment terms that were outside the norm.
A valued partner of UTB has been involved with the company for some time, providing multiple lines of finance for many different projects. On this occasion the firm in question wanted to take out a loan for a relatively short 12 month term to match the term of the license agreement. The upfront cost was substantial and they had additional budgeting challenges as the renewal of the license agreement landed at the end of their financial year.
Our loan enabled the firm to commit the software renewal, which attracted a discounted price from the reseller, coupled with a 3 month deferral offered to bridge the end of the old financial year end and the start of the new. We provided 12 month funding, without the customer paying a premium, that allowed the client to benefit from a discounted license agreement and a repayment structure that matched their department’s budget plan.
UTB continues to offer unique software financing agreements that enable our broker partners to provide end to end financing solutions to suit all their resellers’ financial needs.
Loan size : £92k