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The Challenge
An existing customer operating in the Bus and Coach sector needed a working capital injection to manage seasonal cashflow during the Summer, their busiest time of year.
With equity tied up in existing vehicles and time against them, they needed a smart way to access funding without compromising operations.
The Solution
Nathan Curbishley, Business Development Director, was able to refinance two coaches that the customer owned outright across a five-year hire purchase refinance agreement, releasing £250k back into the business.
By securing the finance against the vehicles, we were able to offer much lower interest rates than typical cashflow facilities, making it cost-effective solution.
The Result
The customer received the cash injection they needed, just in time for peak season. the refinancing not only improved cashflow but did so in a way that was financially efficient and sustainable, helping the business stay agile and well-prepared.
“Businesses with plant, machinery and vehicles often have a lot of tied up equity in these assets. Refinancing these can release this back into the business and allow them to move forward with their business plans, Often at lower rates than some other cashflow facilities.”