Case Study: Financing an Access Platform Hire CompanyPublished on 8th March 2016 2016-03-08T18:08:21+00:00 - Last update on 10th March 2020 2020-03-10T13:36:16+00:00
The Client’s Challenge
A rapidly expanding access platform hire company needed to purchase an additional £300k of machines to keep pace with their clients’ demands. But because they were a relatively new business, they’d reached credit limits with all of the mainstream asset finance companies.
Utilising our extensive network of funding partners, we divided the financial request into three branches of £100k and brought three new specialist funders on board to service the loan. The company got a double benefit: they could purchase their new equipment, and they received three new funders who will look at expanding on their initial investment as the account proceeds. We arranged sufficient credit for the next 12 months, lifting an enormous burden from the directors of the company.
Since the owners of the business didn’t have time to search for alternative funding lines, they were amazed that Rangewell was able to identify so many potential funders who would become true business partners as the business continued to thrive. The key to their business growth was securing future credit lines that would allow them to purchase any more equipment they might need in the future.
If you want to be part of a story like this one, click here to get in contact with our finance team. We work with businesses of all types, from Platform Hire specialists to funding a Credit Hire company, contact us today. Our service is free.
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