Scottish recycling business secures new lorry through Hire Purchase agreement
Loop Recycling Ltd, a prominent waste management company established in 2019 by Directors Paul Frazher and Vari McGale, has significantly expanded its fleet of waste disposal vehicles with a tailored finance agreement provided by Close Brothers Asset Finance.
Leading this partnership is Regional Sales Manager Kevin Byrne, who has maintained a strong rapport with the family for eight years.
Business Growth:
Loop Recycling Ltd specialises in collecting and disposing of waste for commercial premises across Glasgow and due to high demand have now expanded their operations to include Edinburgh. The company boasts an impressive portfolio consisting of more than 1,200 contracts with retail and bar establishments and continues to grow.
Collaboration with Close Brothers Asset Finance:
Kevin Byrne has assisted Loop Recycling Ltd in acquiring a DAF LF55 Bin Lorry, which has proved vital in their expansion into Edinburgh. This essential asset was acquired through a comprehensive Hire
Purchase agreement. By using Hire Purchase the business has been able to spread the cost of the new waste disposal vehicle over fixed monthly repayments. The business also utilised our VAT deferral product, which helped Loop Recycling Ltd postpone the VAT payment on the vehicle, providing them the flexibility to manage their cash flow.
Fleet Enhancement:
Using a tailored finance agreement, Close Brothers Asset Finance has allowed Loop Recycling Ltd to strategically expand its vehicle fleet, effectively meeting the demands of their growing clientele in
Edinburgh and Glasgow.
Kevin Byrne commented: "Working with Paul and Vari has been a pleasure. With the tailored finance agreement, they were able to purchase the DAF LF55 Bin Lorry, expanding their business into Edinburgh. I look forward to working with them more in the future on further agreements."
"Close Brothers Asset Finance has been instrumental in supporting our growth. The Hire Purchase agreement, coupled with the VAT deferral product, provided us with a flexible and tailored financial solution. Their commitment to understanding our business needs has strengthened our partnership and contributed to our success." Paul Frazher, Director of Loop Recycling Ltd
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