This crane hire company required funding for a new crane to keep up with demand and business growth. They came to Moorgate Finance to see if we could beat their usual broker.
The Challenge
This business already had an existing relationship with another broker but was interested in exploring other options to ensure they were getting the most competitive rates and services available. As a result, they decided to shop around and compare offers to see if a better deal could be found elsewhere.
The Solution
We successfully provided the client with a highly competitive quote that beat their existing broker’s offer, ultimately securing their decision to proceed with us. Through our tailored finance solution, we arranged funding of £333,500 for the crane, with a deposit of £112,500. In addition, we offered a 3-month VAT deferral and structured the agreement with a restricted personal guarantee.
This financing package enabled the company to proceed with the purchase of the crane while keep upfront costs to a minimum. The VAT deferral improved short-term cash flow, and the limited guarantee gave the business owners greater peace of mind due to reduced personal risk. With the new crane in operation, the company could immediately begin generating revenue, supporting increased turnover and paving the way for continued business growth.
Since we have worked with the business, we are now looking to assist them with future requirements, including a crane and a commercial mortgage for the purchase of business premises.
The Highlights
✅ £333,500 funded for a crane hire company
✅ Moorgate Finance were able to achieve favourable terms of a £112,500 deposit, a 3-month VAT deferral and a restricted guarantee
✅ The funding allowed them to generate additional revenue from the asset, supporting their business growth
✅ We are now looking to help them with further requirements including another crane and a commercial mortgage
Give us a call on 01908 92 62 62 or head to www.moorgatefinance.com/apply-now to start the conversation.