A haulage company in the Southwest were looking to expand their offering by building a HGV MOT and service centre. They needed our funding assistance to help them to transform their new unit from an empty space into a fully functional centre. This included kitting it out with full equipment, from break testers and rollers to inspection pit and pipe installation.
The Challenge
The project funding came to £300,000, and other brokers attempted to propose the project to lenders. However, they did not showcase the potential of the project and business, which led to reduced funding options and multiple declines on file. This made things challenging, despite them being a business with great turnover and cash flow.
The Solution
After meeting the client and getting on board with the project, we understood their requirements and the impact that this would have on the business. While our competitors were unsuccessful in securing funding for the project, we not only succeeded in obtaining it, but we also did so within their required tight deadlines. Outside of helping the creditworthiness of the business by securing the funding, we were able to help them to generate an additional £1,500,000 a year from this project alone. Another example of how Moorgate Finance will find a solution – the solution that is best for you and your business.
The Highlights
✅£300,000 funded for a HGV MOT and service centre
✅Overcame reduced funding options and multiple declines due to competitors attempts
✅The funded project generates an additional £1,500,000 for the business
Looking to raise funds for your next investment? Speak to Moorgate Finance on 01908 92 62 62
or head to www.moorgatefinance.com/apply-now to make an initial enquiry online.