This business came to us seeking asset finance to fund a used Unimog, in order to keep up with business growth and service new contracts.
The Challenge
A newly formed landscaping and groundworks company based in Yorkshire was in need of a Unimog to support the next stage of their development, The business had recently transitioned from a sole trader to a limited company, having operated under its new structure for just one year. As a young company with no established trading history, they faced several challenges when seeking finance for the Unimog. They were tenants, had only a 5% deposit and required a VAT deferral as part of the agreement. However, initial offers from lenders fell short of their requirements, proposing a 20% deposit and no option for VAT deferral- terms that just didn’t work for what they wanted.
The Solution
After careful negotiation and by presenting strong rationale to our panel of lenders, we successfully secured a significantly improved offer. The final agreement required just a 10% deposit, included a 3-month VAT deferral and a 15% balloon payment- ensuring the monthly repayments remained as manageable as possible. Impressively, this improved offer came from the same lender who had proposed the less suitable terms. Moorgate Finance successfully arranged £115,000 in funding, structured as a 60-month hire purchase agreement, tailored to support the client growth while preserving their cash flow.
The Highlights
✅ £115,000 funded for a Unimog for a landscaping and groundworks company
✅ Structured as a hire purchase agreement, spread over 60-months
✅The initial offer we received did not meet their requirements, so after careful negotiation and strong rationale we were able to secure a significantly improved offer
✅ The final agreement required a 10% deposit, a 3-month VAT deferral and a 15% balloon payment
Give us a call on 01908 92 62 62 or head to www.moorgatefinance.com/apply-now to start the conversation.