Asset Finance -
Hire Purchase on a Recovery Loan Scheme for an Existing Customer
Opportunity:
A concrete pumping company was looking to take on an additional machine due to upturn in business post pandemic in the construction sector.
Approach:
The customer had reached maximum exposure with their existing funders and was struggling to secure the finance. They also wanted a VAT only deposit when most funders required 10-15 % plus full VAT.
Solution:
The funder had extensive knowledge of that industry and the Asset. A deal on Hire Purchase on a RLS was secured with a VAT only deposit over a term of 6 years.