A family-run business with over 45 years of experience in the container industry was looking to raise working capital from existing assets. Having already spoken with two brokers, both of whom were unable to help, the firm contacted Andrew Hubbard - a Senior Finance Broker at Approved Business Finance.
Approved were able to assist with a refinance facility for £1.4million over a 72-month term, with the customer receiving £800k and cleaning current finance agreements without increasing monthly outgoings. The container firm then required a further £600k for VAT funding over a three-month period.
Over the last 6 months Approved has strengthened the partnership and supported the firm with finance for 140 containers, with a further 40 due shortly…and more in the pipeline!
The finance provided highlighted the strength of Approved’s lending panel. One lender said, "This refinance facility highlights our ability to understand storybook lending and high-level transactional skills when dealing with complex multi-asset cases”.
Rory Dunn, Director of Approved Business Finance commented, "The appetite to get the deal done was so refreshing, with the lender even making a last-minute dash to the client's site on the day of completion to finalise the paperwork!”
To find out more about the Benefits of Asset Finance, Equipment Finance or Business Loans then please visit our 'Your Business Finance Guide' section of our website or contact one of our account managers: info@approved-finance.co.uk or call us on 01908 429888