When a specialist dry hire company needed new lighting equipment to expand their offering, they turned to Moorgate Finance after being let down elsewhere. By structuring the right finance package, we not only helped them secure the equipment but also unlocked a contract that will transform their business growth.
The Highlights
✅ £75,000 hire purchase agreement with a 10% deposit and VAT deferred for 3 months
✅ 7% rate achieved, which was 3% lower than the competitor brokers offer
✅ Cashflow was protected through VAT deferral, enabling them to reclaim the VAT before payment was due
✅ The funding allowed them to secure a major new contract with one of the UK’s biggest theme park and event management companies.The Challenge
A dry hire company, specialising in renting lighting equipment to theme park events throughout the UK, was looking to invest in new lighting equipment through one of Moorgate’s trusted suppliers, Robe UK. Their plans were stalled when finance was declined by another broker who only had a limited lender panel. Without access to the right funding, the business risked losing a major new contract with one of the UK’s largest theme park and event management companies, a contract that had the potential to significantly scale their revenue.
The Solution
Moorgate Finance were able to find a funding solution that supported both the purchase of the lighting equipment and the company’s cash flow. We arranged £75,000 on a hire purchase agreement, structured with a 10% deposit and VAT deferred for 3 months. This gave the business the flexibility to reclaim VAT in line with its quarterly return before any payment was due, ensuring cashflow wasn’t tied up in the process.
Just as importantly, we secured a competitive 7% rate despite the equipment being classes as ‘soft assets’, 3% lower than what the previous broker was able to achieve. With the right finance in place, the company was able to purchase the equipment they needed and confidently take on the new contract that would help them to reach their growth trajectory. This is a major opportunity for the business and the contract will see business revenue double in year one and double again by year three.