| Property | Excavators and site plant (not property) |
|---|---|
| Location | Chelmsford, Essex |
| Client | Groundworks contractor that has been trading for eight years |
| Product | Business finance |
The challenge
The business had won a large contract and needed new machinery quickly. Paying cash would have used up the working capital needed to start the job.
What we did
We arranged hire purchase secured on the equipment itself, so no property security was needed. The business paid a 20% deposit, and repayments were spread over the working life of the machinery. The directors gave personal guarantees, as most lenders require for smaller companies.
The outcome
The machinery was delivered in time for the contract, and working capital was kept for wages and materials.
Business financeBusiness loans, asset finance, prestige car finance, invoice finance and VAT or tax loans.
Learn moreImportant: Commercial mortgages and most business finance are not regulated by the FCA. Your property may be repossessed if you do not keep up repayments on loans secured against it.