Asset finance funding roundup
The UK’s asset finance lenders have been hard at work financing equipment over the past few months. Here we gather a selection of some of those deals.
Santander Business Banking provide £460,000 for LED wall technology
Premier UK Events, an event production company based in Leicestershire, has secured a £460,000 funding package from Santander Business Banking to purchase a hi-tech LED video wall.
The funding from Santander Business Banking includes a £300,000 asset finance line. The purchase of the wall, which is made up of 200 half-metre by half-metre individual panels that can be manipulated into a huge variety of shapes, is intended to allow Premier UK Events to remain at the forefront of technological innovation and expand its client base.
As a result of Santander’s business contacts in China, Premier UK Events has expanded its list of equipment suppliers in the country with a view to potentially being able to increase its service options further in the future.
Gener8 Finance arrange £200,000 facility with refrigerator manufacturer
Air conditioning and refrigeration contractor J.C. Watson Mechanical has secured a £200,000 working capital facility from invoice finance providers, Gener8 Finance.
Oxfordshire-based Gener8 Finance arranged the £200,000 facility to fund the business’ growth plans and support day-to-day operational requirements. Gener8 Finance, part of the 1pm Group, provides invoice finance facilities to SMEs looking to borrow amounts from £10,000 to £1m.
BFS provides £250,000 invoice finance facility to printers
Bibby Financial Services (BFS) has provided a £250,000 invoice finance facility to company Thomas Loughlin, a high-quality print finisher.
BFS is supporting Thomas Loughlin with an invoice finance facility that will free up additional working capital previously tied up with overseas customers in Ireland and the USA. The funding will also help the business alleviate cashflow challenges and allow it to consolidate its market position in the North West.
BFS was introduced to Thomas Loughlin by PMD Business Finance.
Asset Alliance Group provides fleet for Amazon supplier
Asset Alliance Group has delivered a fleet of 56 new tractor units to Cross Transport, for operation on its contract with e-commerce business Amazon.
The full-service contract hire deal, valued at approximately £4.5m, sees the supply of a fleet of DAF XF tractors with Super Space Cabs, replacing older assets.
AIB provide £700,000 asset finance facility to concrete manufacturer
Allied Irish Bank’s Liverpool branch has provided a £700,000 (€793,000) asset finance facility to North West of England based firm Exact Concrete.
The funding line brings total funding to date provided by Allied Irish Bank (GB) to over £1m. The four new Bay-Lynx Volumetric Concrete Mixers purchased through the facility are part of Exact Concrete’s renewal programme to upgrade existing machinery and help to complete a range of contracts across the North West region and provide opportunities for further growth.