The Challenge
A well-established Bodyshop specialising in high-end automotive repairs for luxury vehicles were seeking working capital to support with fit out costs for their new site in Norfolk.
The Solution
The client approached PMD, and given our expertise in the sector, we were quickly able to identify a number of niche lenders to secure three separate hire purchase agreements, totalling over £500k.
This funding covered the cost for the fit out of the new site along with funding for intangible costs such as labour and professional fees.
The Result
PMD were successfully able to release capital back to the business, providing financial stability that the client did not anticipate.
The funding secured will allow the business to successfully establish their new site as well as invest in state-of-the-art machinery and bespoke equipment, allowing them to expand their service offering.