Funding for an elusive recovery truck
We were contacted by an established broker connection to discuss a potential transaction for a company purchasing a large recovery truck. The truck was nearly fifteen years old and therefore not an age of asset that ticks every lenders box. We don’t have tick boxes at United Trust Bank, neither do we have a restrictive age policy, so a speedy valuation enabled a quick approval to be given, including a VAT deferment.
As the customer was located at the other end of the UK from our broker, UTB arranged the asset inspection with our local BDM, who then spent the best part of a day chasing the truck around Scotland before finally tracking it down to complete the inspection! Our pay-out process completed without delay and our broker, being very impressed with the service, recommended us to her colleagues.
Not long after funding the vehicle, the broker sent us details of one of the first jobs the truck had been engaged on; recovering a burnt out lorry carrying a cargo of beer. Not a job for the AA.
Loan Size £150,000