Case study

Replacement coach service accesses funding in just a few hours


This replacement coach service specialises in partnering with schools and rail companies and has developed an excellent reputation in its region. With plans to align itself with Public Service Vehicles Accessibility Regulations 2000 (PSVAR) legislation to continue to grow its offering, the business owner found an ideal vehicle for sale that met the regulated accessibility requirements through improved access for people living with disabilities. Needing to raise funding very quickly to secure the asset, the owner turned to industry broker Dan Guest TAFCO Ltd to help find a reliable funding partner in short timescales.

Having worked with him in the past and knowing how quickly Ultimate Finance can turn things around, Dan reached out to Regional Director Jamie Glenn with the business’ funding requirements and he got to work straight away. Jamie recalls, “We received the details of the purchase at 6pm on a Thursday evening and the team at Ultimate Finance ensured that a full proposal was put together and sent back that same evening. The next morning, the legal documents were finalised, issued and signed electronically and the funds were in the business’ bank account on the same day”.

The impressive speedy turnaround ensured that the asset could be secured as desired, and the Hire Purchase facility provided the business with £190k to facilitate the acquisition of the new 72-seater coach to add to the existing fleet. Jamie continues, “Asset Finance is a great funding solution to help a business get the vehicles, machinery, or equipment it needs to unlock greater success. With terms from one to five years, it offers the opportunity to acquire pricey assets straight away, without having to part with large sums of existing working capital for hefty deposits and with the additional benefit of simple and easy-to-manage monthly repayments.

“Because we have over 20 years’ experience in helping businesses keep moving towards their ambitions, we can have funds in place very quickly – as quickly as within just a few hours in this instance. Accessing the right funding at the right time can be critical to success for a business, we ensure that we remain transparent throughout the whole journey with open lines of communication so that introducers, and business owners are always clear as to what the next step is”.

Summarising the experience from his point of view, Dan adds, “I cannot fault the process with Ultimate Finance; from electronic documents and ID checks to the team answering queries, I was kept informed throughout and Jamie and Megan from the Broker Desk team pulled out all the stops to ensure that the client received the money they needed on a Friday afternoon for an early Saturday collection – an outstanding performance from everyone involved in getting the facility in place”.

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