Logo
Global

Vehicle Asset Finance for Business

30th May 2017
GROUP CEO

Islay Robinson

contact
Vehicle asset finance for business
Islay Robinson
GROUP CEO

Islay Robinson

I am always delighted to find a solution for a returning customer. I recently worked with a client who needed a business equity release on an unencumbered industrial site to expand his business. I secured a £500,000 loan for him in this instance, enabling him to expand the physical space of his business.

He later returned to me directly to seek further assistance. With his increased space, he now had the capacity to increase his stock; he ran a car rental business and required a further loan to expand his fleet. He had found that as his business grew, he was turning away business simply because of a lack of stock, so he was keen to invest further to meet the increased demand.

OUR SOLUTION

I therefore suggested that we arrange vehicle asset finance to grow his business. However, this wasn’t a simple case of sourcing a lender who could arrange this type of asset financing for him. As mentioned, he had recently taken out a loan of half a million to extend his business premises. This created an issue because it meant that he had very recently put debt into his business, which made potential lenders uncomfortable.

However, as I had worked so extensively with this client, I knew his financial projections were strong. I was able to use my extensive knowledge of lenders on the market to locate a lender I knew was keen to start offering more vehicle asset finance, and I highlighted to them that he needed further finance to keep up with the extensive demand for his business.

I was able to reassure them he would be able to service the loan, and was thus able to arrange asset finance for my client. I secured him a further £300,000, which will enable him to purchase the stock he needs to expand.

This illustrates that as specialists in commercial finance, we can provide an extensive range of services. Commercial property finance is not the full extent of our offering. We can support your business by arranging a range of finance types, utilising facilities such as invoice finance, asset finance and cash flow lending. If you have any questions about securing commercial finance, please don’t hesitate to get in touch.

Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.

Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.