Going further to help
A long established Welsh Coach Operator and custtomer, with a large fleet of coaches needed to renew their Coach Wash costing £55,000.
Previously this customer had funded this type of asset through his Bank. Despite their excellent track record, their Bankers, nor their Bankers own Asset Finance company would agree to fund a so called “Soft Asset” with poor residual value. The customer had already ordered the Coach Wash, but had no funder. Not only did we step into help, but it was agreed within 24 hours at a better rate than their Bank was suggesting.
In addition £75,000 of Garage equipment was due to arrive later that month and this was added to the deal.
We transacted £130,000 of equipment that our customers Bankers and their own Asset Finance subsidiary would not help with.