Piping services provider takes on lucrative project with Asset Finance

When a business that specialises in providing one of the leading water companies in the UK with piping services and maintenance won a new, lucrative contract which could mark a turning point in their growth journey, Ultimate Finance stepped up to ensure that it needn’t miss the opportunity.

A relationship-based approach

Rob Greenhalgh at PMD Business Finance has a long history of working with Ultimate Finance when it comes to providing businesses with Asset Finance solutions. Ultimate Finance’s Regional Director Jamie Glenn explains, “Our lending model is based on developing long-standing relationships, both with the businesses that we support and the Introducers that refer their clients to us. We have been working with the team at PMD Business Finance for over six years now, and so they know exactly how we operate and the excellent levels of service they and the businesses they refer to us can expect”.

Acquiring a key asset to take on a new contract

When this business was looking for funding to assist with acquiring an expensive piece of machinery key to servicing a new contract, Rob turned to Ultimate Finance with the confidence that this was something they could help with. Jamie continues, “This was a classic case of an opportunity being too good to miss, and many businesses miss out on growth due to cashflow or working capital issues. With Asset Finance, they no longer need to close the door on new contracts since they can acquire plant, machinery, vehicles and other hard assets without having to part with large sums upfront”.

The team at Ultimate Finance quickly tailored a £185k Hire Purchase solution that would allow for an industry-leading drill to be obtained and repaid over a 36-month period to prevent any disruption to the business’ cashflow. With the asset in hand and the ability to service the new contract, the business is looking to use growth earnings to continue to invest in more equipment and keep on taking on larger projects.

Processes that make a difference

Reflecting on the process, Rob says, “Ultimate Finance were quick, easy to deal with, and eager to work with our team to get the funding in place so that the business could get going with its new contract”.

Jamie concludes, “Having been lending to businesses across the UK for over 22 years now, we are proud of our track record in supporting the ambitions of business owners with our range of award-winning asset-based lending solutions. We became this business’ funding partner of choice through our efficient processes that deliver speedy decisions and funding that keep business moving”.

Find out more about our range of Asset Finance solutions.