After securing a large new contract, this family run tyre recycling business was on the lookout for a funding partner that could provide financial support to fulfil added demand and help them expand. After detailing their ambitions and needs to their broker, they were introduced to Ultimate Finance as the potential funding partner of choice.
The broker explains “When a business owner comes to us with a challenge, we ensure that we not only match them with the funding they require but also access to a service that fits their way of working too. Adam and the team at Ultimate Finance understood the needs of my client straight away and provided a £100k Asset Finance facility to refinance one of their existing assets, a heavy-duty shredder, which consequently released the funds for the purchase of two further assets”.
Regional Director at Ultimate Finance, Adam Myers adds, “It’s always great to be able to support family run businesses with the funding they need to meet their ambitions. With our facility in place, the company was able to access £100k tied up in the shredder to support with purchasing two new machines that will help keep their business moving. The first asset, a HGV, will allow the company to bring their transport in house, removing the need for external suppliers and therefore reduce their costs”.
“With the current ever rising increases to costs including metal, the second asset, a clean wire separator, will give them the ability to create a new income stream from materials that would have otherwise been wasted whilst time helping to reduce landfill at the same.
With the Asset Finance facility proving beneficial to the business, they are considering Invoice Finance and a further Asset Finance facility in the future to allow them to access further liquidity.
The broker continues, “As a broker we need our lenders to be responsive and quick to provide our clients with the right funding solution to support their business growth plans. Adam and the team at Ultimate Finance did exactly that and lived up to their mission of being the Funding Partner of Choice.”
Click here to learn more about becoming an Introducer with Ultimate Finance and find out more about how Asset Finance helps keep businesses moving here.