A concrete pumping company was looking to take on an additional machine due to upturn in business post pandemic in the construction sector.
The customer had reached maximum exposure with their existing funders and was struggling to secure the finance. They also wanted a VAT only deposit when most funders required 10-15 % plus full VAT.
The funder had extensive knowledge of that industry and the Asset. A deal on Hire Purchase on a RLS was secured with a VAT only deposit over a term of 6 years.