As a commercial finance broker, the most challenging cases are certainly the most satisfying to get over the line. That was definitely true when we supported a major industry leading metal recycling company.
Even faced with overseas operations, financial losses, and heavy tax liabilities, we’re never one to shy away from a challenge.
Particularly from such an ethical company associated with offender rehabilitation, residential support, and food distribution, we knew this company deserved to thrive financially.
The Challenge
The metal recycling company needed funds for 2 car balers, sourced from a Belgian company.
With a complex company group structure, financial losses and complicated tax liabilities, it was a tough case for a lender. However, we’re pleased to say it was a case of slow and steady wins the race and we were able to secure the funding required.
The Solution
After 2 months of working together closely, we were able to secure funding for 2x £750k balers for the customer.
With payment required in Euros and a same-day asset delivery, we made the journey to Newcastle to carry out an in-person asset inspection to ensure these requirements could all take place.
As a result, the business were able to purchase the balers and long-term, double their profits with increased productivity.
The Highlights
- A traditionally tricky deal due to overseas operations and financial losses filed.
- After 2 months of working together closely, we secured funding for 2x £750k car balers.
- Payment in euros achieved and same-day asset delivery.
- Doubled the companies profits and increased business productivity.