A Welsh coach company needed to invest in a new diagnostic machine to support the maintenance of its fleet and reduce its reliance on external mechanics. With previous finance declines, missed payments and limited cash reserves, finding the right funding solution wasn’t straightforward.
The Highlights
✅ £13,000 secured despite previous finance challenges
✅ 5 years to spread the investment, helping protect the business’s cash reserves
✅ £600 saved every month by reducing external mechanic call-outs
✅ Around £7,000 saved a year, helping turn the investment into a real cost saving
The Challenge
The coach business needed the new diagnostic equipment to help keep its fleet running efficiently, but its recent financial circumstance made securing finance more challenging.
Previous missed payments and declined applications had limited the options available, while the cancellation of a contract had also reduced the company’s cash reserves. Using cash to purchase the machine outright wasn’t an idea option, so the business needed a financial solution that would allow it to make the investment while protecting its available working capital.
The Solution
Moorgate Finance took the time to understand the coach business and its circumstances, looking beyond the previous financial difficulties to find a suitable funding option.
We secured £13,000 of finance over a 5-year term, allowing the company to purchase the diagnostic machine without using a significant amount of its remaining cash reserves.
To help get the deal completed, our Account Manager also personally travelled to Wales to meet with the client and work through the requirements directly.
Since purchasing the machine, the coach business has been able to carry out more diagnostics internally and reduce the number of external mechanic callouts required. This is saving the company approximately £600 per month, with estimated savings of around £7,000 over a year.
The finance has therefore enabled the business to make an important investment in its fleet while also helping to reduce its ongoing costs.
Need funding solutions like these for your business? Give us a call on 01908 92 62 62 or head to www.moorgatefinance.com/apply-now to start the conversation.
