Funding IT for a retail chain expansion

United Trust Bank is continuing to develop its offering to the Technology funding market place and provide our brokers with additional innovation to offer their customers. In this instance, a retail
firm, which was looking to expand quickly over the next 24 months, wanted to arrange some payment options for equipping each new retail outlet with all the hardware, software and support needed to integrate with the company’s existing IT infrastructure.

A valued partner of UTB has been involved with the company for some time, helping to arrange the funding for a previous contract. On this occasion the firm wanted to take out a loan for a longer term to enable them to preserve much needed capital for other elements of the expansion of the firm. The upfront cost for each outlet was substantial.

Our loan enabled the firm to commit to the rollout of new site openings using their own cashflow for the purchase/renting of each new premises whilst UTB had approved the overall requirement of the IT Infrastructure. This gave the customer peace of mind and allowed them to focus on the successful expansion of the business whilst we took care of the technology funding.

Loan Amount: £84,000