We help raise a deposit for a fleet of vans by refinancing existing assets…
A customer approached us as they had a van and a Land Rover Defender coming towards the end of their existing finance agreements and were looking to refinance them to raise the deposit for a new fleet of vans and cash for working capital.
We obtained valuations and settlement figures for both of the assets from the existing funder and then refinanced the assets through a new funder, who took care of the settlements for the customer.
The customer then used the equity as deposit for a fleet of vans, which were financed over five years with a three month VAT deferral, to ease the impact on their cash flow.
We agreed the deal, inspected the assets and paid-out the deal all within 24 hours.
The customer then contacted us to arrange funding for a New Holland tractor and a JCB Mini Excavator in two further deals of the same profile.
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