Exchange Finance offer finance packages to a broad range of business areas. They pride themselves on being able to specifically structure a finance agreement to suit an individual business’ needs.
Established in 1989, their customer is a successful catering business that has developed a franchise of 50 plus popular fast food restaurants throughout the UK.
Solution needed to improve cash flow
The customer’s business has expanded vastly over the past 18 months, with the opening of several new restaurants. And with many of the restaurants being freehold properties, this affected cash flow.
The funding required from Close Brothers Business Finance was needed for the refurbishment and new equipment for some of the recently opened stores.
Business goes from strength to strength
Close Brothers Business Finance were contacted by the broker as they been familiar with the customer for around nine years and the broker was confident with their vast knowledge and expertise on the industry. The broker knew Close Brothers Business Finance have built several deals over the years which has catered perfectly for the customer’s needs resulting in repeat business.
The total amount needed for the refurbishments and equipment was close to £163,000 and after meeting with Karen Fryer, Broker Development Manager, Close Brothers Business Finance, a detailed proposal was swiftly created which included an initial payment followed by 47 manageable monthly instalments.
The finance lease has improved daily cash flow for the business and enabled the customer to offset against tax liability.
Oliver Dyer, Director, Exchange Finance, said “Having an excellent long-lasting relationship, I was certain Close Brothers Business Finance was the best option for the customers needs. I was sure they would be able to pay out fast and provide the customer with an affordable repayment schedule.”