Our Commercial Funding team have been hard at work over the last few months, helping to secure funding for a range of different sectors and exciting projects.
One which stood out, especially with the new car registrations coming out in March, was securing £66,000 worth of funding for a purchase of a vehicle, after the Director of the business had their original application declined.
The Director mentioned it in a meeting with their Client Manager, who knew exactly who to turn to, our in-house Commercial Funding Manager, Luca Royle, who’ll do whatever it takes to navigate the best route to funding.
After an initial conversation provided a strong understanding about their business needs and growth plans, Luca worked hard to secure the funding needed so that they could purchase the vehicle. But how did he do it?
The road to success
The original application was declined as the Director, who was purchasing the vehicle, didn’t have 12 months’ worth of accounts that they could provide, as their business was less than a year old.
Funding for a young business is often difficult to source, and when you can, it can be difficult to find a competitive rate. The dealership our client was purchasing the vehicle from was initially unable to provide finance themselves.
Not only did we secure the correct funding, we also did so at a better rate for the client then when he originally approached the dealership!
The funding that was sourced was through Asset Finance. This benefitted the client as they were able to acquire the vehicle via a straightforward process, with a low deposit.
We were delighted to be able to support our client in obtaining the necessary funding for their director’s vehicle purchase. It’s incredibly rewarding to see our clients’ businesses thrive, and we are committed to providing exceptional financial solutions to meet their needs.
But that’s enough about us, what did the client think?
“Your team over delivered, not only did the application get turned around in a couple of days, but it was also at a very competitive rate. You were in communication throughout and the process was very swift and smooth. Very happy and would recommend.”
