A tailor-made finance solution for a bespoke business - West & Reid

Wood Drilling

 

Here’s how we helped West & Reid, a furniture and cabinet making business, to enhance its bespoke interior design offerings to its customers. 

The customer

With over 20 years experience between them, craftsmen and designers Malcolm Weir and Tom Jarvis established furniture and cabinet making business, West & Reid. Based in London, the company manufactures bespoke kitchens and residential interiors.

The challenge

To move the business forward, company Directors Malcolm and Tom wanted to increase capacity and offer their customers the latest technology in order to produce outstanding quality kitchens and enhance their offering. Investing in a new SCM Morbidelli N100 CNC router would help them to achieve this. 

Malcolm and Tom contacted manufacturer SCM Group (UK) Ltd with their requirements.  

The solution

SCM Group (UK) put the Directors in touch with Richard Randall, Area Sales Manager, Close Brothers Asset Finance, as this was a large purchase with finance required as soon as possible.  Richard met with Malcolm and Tom within a few days of initial contact to assess their requirements.  

Richard was able to put a hire purchase agreement in place which was underwritten in less than 48 hours. Furthermore, he was able to offer the customer a VAT deferral since the arrival of the machine did not match up with the end of West & Reid’s VAT quarter.

The outcome

The additional support of a VAT deferral helped the company’s cash flow whilst waiting for the VAT to be reclaimed.  

Malcom commented: “Thanks to Richard and the team at Close Brothers, the quick set up of finance meant we could purchase the SCM machinery and move West & Reid forward with future plans.” 

To find out how we can help, please contact us today.