Hire Purchase helps business meet service demand
B2B Cashflow Solutions Limited is a multi-award-winning finance broker with extensive experience in providing commercial finance, business banking and financial project management to their customers.
They had a customer that worked within the construction industry who specialises in groundwork and pathways but also takes on small and large jobs – this customer was looking to finance a business-critical asset after securing numerous large contracts.
After securing the additional contracts the customer needed to acquire a business-critical asset to fulfil the workload, therefore, contacted B2B Cashflow Solutions to help them find an appropriate finance provider that would understand their needs and offer the best financial solution. The customer was looking to buy a Ford Transit Utility Cab Tipper, this van with a tipping mechanism is essential to their work and worth in the region of £20,000. The customer already had three vehicles within their fleet but required a fourth to support the increase in business demand.
After recently working with Close Brothers Business Finance on a similar agreement, which was a great success for their customer, B2B Cashflow Solutions approached them again to ask if they had the appetite to finance another vehicle.
On behalf of their customer, B2B Cashflow Solutions worked closely with Close Brothers Business Finance who were able to structure a Hire Purchase deal whereby a loan was secured against the asset. This product solution also means that at the end of the agreement the customer can pay a final payment to fully own the asset, which was the desired outcome for them.
The customer was impressed with the finance solution offered by Close Brothers Business Finance. The two deals were paid out within two weeks which enabled the customers to fulfil the additional contracts quickly without compromising their cash flow.
B2B Cashflow Solutions commented, “It has been a pleasure working with Close Brothers Business Finance - together we have been able to find an appropriate finance solution for our customer which will assist them in meeting the business demands going forward.”
Samantha Atkinson, Broker Relationship Manager from Close Brothers Business Finance said, “Here at Close Brothers Business Finance, we work closely with our finance brokers to support their customers by offering tailor-made asset finance solutions. In this case, we were able to support B2B Cashflow Solutions to provide funding for their customer which enabled them to meet service demand.”