£3MILLION EQUIPMENT REFINANCE DEAL!
- Matthew Martin
- Jul 28, 2023
- 2 min read
Updated: Oct 31, 2023
In a recent £3million Equipment Refinance deal for a UK leading storage container sales and hire provider, Andy Hubbard displayed the advantages of using a broker to meet your funding requirements.
The client approached Andy with a clear objective: to refinance their existing assets in order to unlock funds for expanding their business. Their turnover had recently doubled, necessitating a strategic financing solution to fuel their growth. Additionally, the client sought to utilise the released funds to procure new stock for their sales fleets—a challenge given the supply issues plaguing the industry.
Andy's reputation in financing complex non-traditional assets like containers made him the natural choice for the client. Recognising the size of this opportunity, Andy collaborated with Robert Still at Hampshire Trust Bank. This strategic partnership proved instrumental in securing the funds required by the client, seamlessly navigating the entire process from initial enquiry to final payout.
Rob Still, Head of Business Development at Hampshire Trust Bank (HTB):
“We have worked closely with ABF since their inception and enjoy working with them due to them always knowing their customers well, which means they are able to match them with our various offerings.
“One area to mention specifically is their work on their structured offering. HTB has a dedicated Structured Asset Finance team, and ABF have spent time and resources to understand specifically how we can help their customers to consolidate debt and reduce their monthly payments. These deals can be particularly heavy touch and require a team that knows what they are doing.
“This is particularly important as with renewed short-term uncertainty, rising costs, supply chain disruptions and labour shortages - all acting as headwinds to economic performance, we are seeing a significant increase in SMEs that are needing to reduce their monthly obligations to a more comfortable level and put some cash back into the business.
“ABF have the knowledge and expertise to take the reins in the application stage and provide us with all the requisite information to make an informed decision. This allows business owners to be able to put their time and effort into running their business, and not worry about cash flow pressures. ABF continues to be a key broker partner of HTB, and we look forward to helping lots more SMEs with their asset refinance / debt consolidation.”
Are you a business owner interest in refinancing your current assets? To find out more information or to contact a member of our team, please follow the link below:
