Last month, we helped a variety of businesses. Here, we’ll focus on one of them.
We were contacted by the customer last year; they were concerned about proposed changes to their bank overdraft and wanted to explore other options.
Fast forward a few short weeks, the bank had halved their overdraft and wanted to remove it entirely. Understandably, this caused our customer a great deal of stress.
We provided a refinance facility against 4 of their vehicles raising over £150,000, enabling them to repay the bank. Refinance was the ideal solution for the business – visit asset refinance for more info.
Being too reliant on the bank can cause issues if there are uncontrollable changes in credit appetite or economic climate. Therefore, we encourage businesses to explore a wider range of financial solutions and providers – there are plenty of us out there, all looking to add value as a commercial partner.
Our customer has certainly seen the light!
Do get in touch with us if you would like to discuss asset finance or refinance.