Two Crushers funded with CBILS Facility
£667,000 Construction Equipment Funded For Large Civil Engineering Business
Sector: Construction
Solution: CBILS Hire Purchase
The Client
A long-standing Liquid Corporate Finance client in the Construction industry, who services various large government and private civil engineering projects throughout the UK.
The Challenge
To identify a suitable funder that would facilitate funding the purchase of two brand new Crushers, during the pandemic on sensible terms during a volatile trading period. Sensible deposit and a VAT deferment were must haves in any tabled offer of finance.
The Solution
Utilising the government back CBILS, we were able to provide a £667,000 Hire Purchase facility with a 10% deposit and balance financed over 60 months. VAT was deferred for three months, leaving as little disruption to cashflow as possible.
Summary
Having worked with our client for many years and, crucially, really understanding their company and what they were trying to achieve, we were able to deliver a tailored, business-critical solution. This allowed the client to continue with their growth plans, even through a difficult trading landscape.
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