Apr 8

Affinity’s range of funders key in crane acquisition

Posted: 8 April 2013 by admin

We were introduced to our client by a trusted source of business to help support the purchase of a crane. It was crucial the business acquired the piece of equipment for a long standing project they had committed to.

All their usual routes to funding were stunted by the age of the equipment (1995) and as such none of the lenders they approached would assist. However, once we were introduced we quickly ascertained which of our funding panel would be interested and responded with 3 offers within 24 hours.

The £133K deal was completed through a ‘Tier One’ funder at competitive rates with a 20% deposit, including a 3 month VAT deferral, to help ease cashflow. As a result the customer was able to fulfil their contract requirements.

It is fair to say that without our involvement and access to a wide variety of lenders this deal would not have completed, the customer was delighted and will use us for future plant acquisitions.