DEAL OF THE MONTH APRIL 2021
Posted in: Deal Of The Month | Posted on: 4 May 2021
Our latest Deal of the Month is a great example of our refinance/equity release product...
THE COMPANY
SECTOR: Recovery, breakdown & transport service company
Established family run business traded for 26 years based in the North West.
Whilst the business trading had slowed down during the height of the pandemic, with the easing of lockdown the business was returning to the normal trading levels they had enjoyed pre-covid.
To aid cashflow during the covid lockdown the business had taken out a CBILS loan and the repayments were now due.
Running a fleet of 10 recovery vehicles with newest models on finance and older models unencumbered.
Working with their broker they considered ways to consolidate their debt whilst potentially releasing some equity to further aid cashflow.
SOLUTION
The broker wanted a finance company that was commercially minded and had experience with refinancing business assets.
Kingsley Asset Finance have been assisting SMEs for over 25 years with asset finance & refinance and with our commercial approach the broker knew they were in capable hands.
Working quickly KAFL had all the recovery trucks valued. Taking into account the settlement figures for the trucks still on finance, KAFL were able to both settle the company’s existing finance agreements whilst releasing additional cash.
With just one easy monthly repayment the company could budget more effectively whilst the equity release gave them the additional headroom in their cashflow.
From receipt of the brokers proposal this deal was underwritten, finance documents raised and paid out within a week.
If you have a proposal you can send to us at newbusiness@kingsleyassetfinance.co.uk
