An established broker connection introduced a new start company to us which required finance for a large excavator with a specialist jaw attachment.
Although the company had been trading for only 6 months the management of the company were highly experienced individuals with impressive CV’s and they had spent many years employed by large companies operating within the specialist industry sector.
Rental of the equipment they were planning to purchase was not a problem but a saving of circa 40% per week could be achieved on rental costs over purchase costs if they could secure funding on advantageous terms and thereby significantly increase their profitability.
We were able to agree terms, involving an advance of £110,000 over 48 months, within time constraints and with director’s guarantees. The funding enabled the company to secure contracts that were crucial to the success of their overall business plan.