A forestry contractor obtained a contract for Council work, but needed to spend a significant amount to update his fleet. The client wanted to purchase an excavator, a chipper, a tractor and some small unidentifiable items from auction but found that many funders are unable to purchase assets from auction. ALG transacted a short term Sale & Leaseback against existing assets to provide the client with cash to go to the auction with confidence, to buy the ‘little bits and pieces’. ALG then provided a four year Lease facility on the main assets, taking the invoice directly from the auction house, providing stability to the business, ensuring the client could make maximum benefit from the contract.
A printing company wanted to purchase a folding machine, to bring this service ‘inhouse’ They didn’t need to spend a lot of money, so the machine they identified was built in the late 1980′s, costing £10,000.Their current funder couldn’t assist due to the age of the machine and the size of the transaction. ALG Finance Ltd were able to visit the client within 48 hours of the initial enquiry, to collect the usual information, and the deal was agreed the next day. The machine is now almost fully utilised due to the additional work found for the machine, and they are looking at purchasing further equipment, with help from ALG.
A recovery operator had always used his own bank for financing his assets, which are typically long-life vehicles that hold excellent residual values. He needed an additional vehicle with a crane attached, so approached his bank due to his sense of loyalty. He was amazed when his bank declined to assist with the purchase, despite a long-standing unblemished record with them. They declined him due to the small CCJ (County Court Judgement) that he had picked-up, regarding a trade dispute over supply of sub-standard parts. The matter was still in the hands of his Solicitors, and he was confident of having the matter set-aside, but his bank was completely inflexible and uninterested in the facts! Needless to say that his bank will no longer be financing any of his Asset requirements.
A haulier wanted to apply to extend his Operators License, as he was being asked to put further vehicles onto existing secure contracts. He did not have the cash in the bank to satisfy the Department For Transport. ALG Finance refinanced a number of vehicles and trailers, to help him obtain his extended License.
A restaurant was opening a second site in a neighbouring town, but having over-spent on the refit for their new site, they ran out funds, with opening day fast approaching! They were introduced to ALG Finance by a finance broker. ALG Finance quickly refinanced the catering and bar equipment at their existing restaurant, providing them with the cash to complete the refit of their new site, and open on time.