Going further to help
A long established Welsh Coach Operator and customer with a large fleet of coaches needed to renew their Coach Wash at a cost of £55,000.
Our customer had previously funded this type of asset through their Bank. Despite their excellent track record, their Bankers would not agree to fund a so called “soft asset” which had a poor residual value. Our customer had already ordered the Coach Wash, but found themselves with 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 funding that our customers Bankers and the Banks own Asset Finance subsidiary, would not help with.