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Despite the recession, the general election, and the continued inflexibility of the banks! At Advance Finance & Leasing we continue to support our clients. Here is a brief insight into a few deals we have completed so far this year.
A rental business was struggling for additional credit facilities. Customer demand was very high, due to the continued advantage of sourcing assets on a rental as opposed to capex. We arranged an injection of £100,000 of cash in to the business by refinancing assets already owned. This reduced pressure on the exisitng overdraft limit and allowed investment in new core assets.
“Advance new what they were doing, and they allowed me to concentrate on meeting our customer demands” M.D.
A vehicle recovery business had an invoice discounting facility, provided by its bank. Without any notice the provider significantly reduced the previously agreed percentage of advance payments. We introduced a more commercially minded invoice discount provider, re-instating the required terms and conditions and actually reduced the fees charged.
“Our bank assumed we would just accept their new terms, how wrong they were!” F.D.
We helped a large manufacturing business fund a £500k machine which took 6 months to install. This involved structuring a lease to reflect this lengthy installation period, and agreeing supplier progress payment terms.
“Advance actually became our project manager, making sure all parties were kept up to speed with developments .” UK CEO |
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