Case study

Construction business secures future growth through Refinancing


This family-run manufacturing and construction business has been trading for over 20 years and provides top-quality soil to its client base which ranges g from large utility companies to local councils. After winning a number of lucrative new contracts the business’ director reached out to finance brokers Stuart Mason and Ben Davies of Hexa Finance to find out how a funding solution could help them reach their goals quickly and efficiently.

Stuart explains, “Our client came to us with specific needs: they wanted to consolidate outstanding debts and inject further cash into the business to target sustained growth after needing to use a substantial investment to secure the new contracts”.

Ben and Stuart spoke to Ultimate Finance’s Senior Regional Director Stephen Brook who used his industry expertise to propose an Asset Finance solution that could refinance against multiple existing assets to unlock as much liquidity as possible in a very short space of time. Stephen explains, “At Ultimate Finance we specialise in providing tailored asset-based funding that makes the most of a business’ existing assets to provide them with the cashflow they need to keep moving towards their ambitions. In this instance, a Refinance facility was the best solution, as the business already had some great machinery and vehicles that could provide the cashflow they were looking to access”.

The facility helped raise £210k through the refinancing of a low loader, tipping trailer, finlay screener, load shovel and two excavators, with a quick underwriting and onboarding process making the funds available in only a matter of days. Stuart adds, “Stephen and the team at Ultimate Finance have been an absolute pleasure to deal with on this transaction. Not only did they excel in their speed to decision on valuations and credit approvals, but their quick and efficient documentation and payout process helped accelerate the project for our client. We wouldn’t hesitate to work with Ultimate Finance again”.

Stephen concludes, “Asset Finance is a great way to access much-needed equipment, plant or machinery, but it can also provide greater access to cashflow by refinancing against existing assets as evidenced here. It is a perfect alternative to costly loans or overdrafts and offers businesses in every sector the chance to acquire funding quickly with manageable costs and repayment schedules”.

With the funding in place, the business continues to use its assets, with the additional advantage of now having access to the valuable working capital it needed to inject back into the business to secure future growth through existing and new contracts.

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