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Hire Purchase - J W Thompson International

J W Thompson case study

Securing funding for a local start-up business

Earlier this year, William Thomson made the decision to set up his own timber haulage business after serving his apprenticeship and learning the ropes from within the industry. His experience involved driving forestry machinery for a number of years and immersing himself in the industry before deciding the time was right to enter the commercial haulage sector in a new role – as a business owner.

William’s initial requirement was to obtain finance in order to purchase a Topline truck and a timber trailer, valued circa £60k. With a lack of borrowing history, this presented a challenge making sourcing finance to meet the business plan, a stumbling block with the majority of lenders in the market.

A different approach from other market lenders

Following a meeting with our Transport Division, not only were we able to offer a tailored, flexible finance package securing funding for a new start up business, but we also offered William access to a unique collective fuel card scheme to help with fuel costs.

The business now uses two fuel cards on a regular basis, saving an estimated £500 a week. William said: “Fuel costs are detrimental to my business growth and the added value service offering made dealing with Close Brothers that extra bit special. It was a pleasure dealing with someone who understands the industry.”

"The service I received from Close Brothers Asset Finance has been fantastic,” said William. “Always available to provide advice and reassurance.”