The Technology Finance team was approached by one of our trusted brokers to fund some high end servers for an established business. The purchase was to facilitate some large expansion plans and budgets were being stretched. The transaction was introduced to us by Chris Topping at Jay City Finance Ltd, a well-established business which is well known in the IT finance marketplace. United Trust Bank have worked with Chris and Jay City on several occasions previously.
The borrower was a fairly large group of companies that had a very seasonal business cycle that can put a strain on the cash-flow of the business at certain points during the year. However, keeping the IT function performing at maximum capacity is a key factor in enabling the business to meet and exceed all of its own clients’ expectations. Given United Trust Bank’s innovative approach to funding technology, we were able to agree the requirement after a few initial checks and enabled the business to maintain its service offering safe in the knowledge that the group’s IT systems would be running at optimum level.
Chris Topping commented on his experience of working with United Trust Bank when providing technology finance solutions.
“I’ve worked with UTB on a couple of important transactions and have found them to have a strong knowledge and understanding of the market and are exceptionally easy to deal with. It’s refreshing to see a new funder being able to fulfil these types of contracts but also to be able to deal with people who understand how important this type of funding is to the end-user and be able to provide a solution in a timely manner.’’
Loan Amount – £270,000