£124,549 Asset Refinance Helps Specialist Haulage Business Restore Cash Flow and Expand Capacity
Company Sector: Transport & Haulage
New Amount:
£124,549
Loan Type: Asset Refinance
Loan Term:
60 Months
Specialists in moving heavy and abnormal loads, our client has decades of experience in Hiab hire, contract lifting and road haulage, handling everything from site accommodation and industrial machinery to boats and abnormal loads.
The Challenge
“the significant cash investment tied up valuable working capital within the asset"
When the opportunity arose to add a Low Loader to the fleet, the business bought it outright from a seller in Ireland. The vehicle represented an important addition to the company's fleet, enabling the generation of additional revenue, however the significant cash investment tied up valuable working capital within the asset.
The challenge was that the Low Loader had been purchased outside the UK, limiting the number of lenders willing to consider refinancing the vehicle. In addition, the specialist nature and unique specification of the asset meant that finding the right finance solution required access to lenders with experience in this type of equipment.
Our Solution
“Asset finance on a purchase made outside the UK, structured as Sale and HP over the vehicle's original 60-month term.”
We secured an Asset Refinance Facility of £124,549, arranged over a 60-month term. This allowed the business to refinance the Low Loader and release the original purchase price back into the company.
The lender was able to offer a Sale and Hire Purchase structure for the specialist vehicle, despite it having originally been purchased outside the UK.
The Results
“Cash flow restored, and a specialised asset now earning its keep.”
The full purchase price was returned to the business account, taking the pressure off cash flow that the outright purchase had created. The Low Loader is now generating additional revenue for the business, adding capacity for the kind of specialist, high-value jobs the trailer was bought for.
Have you invested cash into vehicles, machinery or equipment that could be working harder for your business? Asset Refinance could allow you to unlock capital from existing assets while retaining the equipment your business relies on - 01832 770 273