A Bath based recovery company sought to expand their operational capacity through the acquisition of an additional recovery truck. Having faced previous obstacles, the business required a solution that would allow them to facilitate their growth and enable them to capitalise on new opportunities.
The Highlights
✅ Overcame barriers of an older vehicle and private sale
✅ Financed £21,000 with just a £500 deposit, over a four-year term
✅ Navigated lender restrictions to provide a solution and overcome obstacles
✅ Supported growth by increasing capacity to take on more work and increase workforce
The Challenge
The business had found a great deal on a second-hand recovery truck through a private sale, but faced multiple barriers when seeking funding. Previous finance applications had been rejected, and other brokers were unable to assist due to the age of the truck and the fact it was a private sale. These factors made it difficult for the company to secure the funding they required to grow, limiting them in the work they could take on.
The Solution
Moorgate Finance delivered a bespoke financing solution tailored to the company’s specific requirements. We arranged funding of £21,000 over a four-year term with a low £500 deposit. By navigating lender restrictions and structuring a deal that overcame the obstacles of a private sale and an older asset, we were able to assist the business in securing the truck that was essential to their expansion and growth.
By tailoring the finance to meet the needs of the business, the recovery company successfully expanded their fleet, enhanced workforce capacity and increase their operational capacity. This strategic investment not only facilitated immediate growth but also positioned the business for sustained success within a competitive market.
Give us a call on 01908 92 62 62 or head to www.moorgatefinance.com/apply-now to start the conversation.