Background: The structured asset finance team have recently completed £565,000 sale and HP back on multiple hard assets for a Northern based construction company. The customer had stacked up multiple forms of short term unsecured debt at rates that were crippling the company’s cash flow and restricting growth.
Solution: The team provided a sale and HP back facility against all of the businesses hard assets and settled off multiple funders. A 60 month term was provided to reduce the client’s monthly payments to a manageable figure, saving the customer £240,000 per anum.
Excellence through specialism: The equity held within the assets also enabled us to provide the client with £100,000 of working capital to support newly awarded contracts.
Broker feedback: “I asked Richard to have a look at this deal for me and from the very beginning he took the reins and provided a very professional service. The director of the business was very impressed with Richard and although it was frustrating at times for Richard and myself trying to get the required information from the director, Richard drove the deal forwarded and gained a great rapport with the director. After assessing the full list of assets and the current funding behind them, Richard was able to structure the deal which allowed the loans to be repaid, the asset finance to be simplified into one monthly payment and an overall monthly saving of £25,000.
This is a great result for the business as this huge monthly saving means that the business will have more cash available to strengthen its overall position and take some of the pressure away from the directors, allowing them to focus on developing the long term objectives of the business.”