Moorgate Finance recently partnered with Momenta Finance, a reputable commercial finance lender, to facilitate a significant unsecured business loan of £250,000 over a 36-month term at an interest rate of 16.45%. This financing was provided to a borrower in the automotive industry, with the specific purpose of supporting the launch of a new rental offering.
The borrower, a supplier partner of Moorgate, in the automotive sector, had achieved remarkable growth and financial resilience, even during the challenging economic conditions caused by the COVID-19 pandemic. Recognising an opportunity to diversify their product range and explore new revenue streams, they sought financing to embark on this ambitious venture.
Moorgate considered multiple funding options for their client but ultimately selected Momenta due to the early settlement terms, aligning with the client’s desire to repay the debt quickly without incurring additional costs.
When it comes to navigating the complex world of commercial financing, experience and flexibility often make the difference between success and disappointment. One of our Account Managers expressed their appreciation for the unique approach that Momenta brings to the table, “The beauty of dealing with Momenta, not just in this transaction but in others as well, lies in their unwavering commitment to crafting deals that truly benefit the customer. In an industry where many lenders rely on algorithms and ‘computer says no’ attitudes, it’s incredibly refreshing to work with a team that prioritises a human-led approach to underwriting.”
Moorgate is proud to have partnered with Momenta Finance to provide a tailored financing solution that aligns with the borrower’s strategic growth goals.