An automotive performance centre, who provide specialist vehicle maintenance, modification and tuning required funding to expand their fleet.
The Challenge
Before coming to Moorgate, this business had already approached their main bank to secure funding. However, that route came with a series of hurdles. It would have increased his credit line, required a second charge on personal property, and added an extra ILA cost. On top of these barriers, the bank’s funding process involved lengthy terms, meaning there would be significant delay before the cash was actually released to the business. With these challenges in the way, they knew they needed a better, more flexible solution.
The Solution
Moorgate Finance were able to secure £60,000 of funding for the vehicle, enabling the business to purchase the vehicle- which was the first of its kind in the UK. The funding was structured as a 60-month hire-purchase, allowing them to spread the cost over time and maintain healthy cash flow. Not only were we able to beat the rate offered by their main bank, but we also offered them an extended term, reducing their monthly payments.
With this new vehicle our customer is the first in the UK to develop a package of its kind to offer to their to customers with a manufacturer backed warranty. This indicates that they are at the forefront of cutting-edge technologies within the motorsport industry.
The Solution
✅ £60,000 funded to help an automotive performance centre expand their fleet
✅ Structured as a 60-month hire purchase to maintain healthy cash flow
✅ We were able to beat the rate offered by their bank, and offer and extended term to reduce their monthly payments
Give us a call on 01908 92 62 62 or head to www.moorgatefinance.com/apply-now to start the conversation.