£17,000 for expanding haulier business

Location: Nr-Glasgow, Scotland

General Background

This single van delivery company was looking to get into heavier haulage and had been offered a contract at Amazon if they could get the right truck. No first year accounts had been produced so the banks weren’t willing to lend based on this limited trading history. The right truck had been found and the client needed to raise the funds quickly to secure it.

 

Finance Background

  • Private limited company
  • Property owner
  • First year trading accounts not yet produced
  • Steady cashflow from van delivery business
  • Bank not able to help because no trading accounts

Alchemy Funding Approach

  • Type: Sale & Leaseback
  • Term: 60 months
  • Client paid £5000 deposit for truck direct to vendor
  • Funding security to value: 50%

Security

  • Truck
  • Van

Rate

  • 6.9% net

Location: Nr-Glasgow, Scotland

General Background

This single van delivery company was looking to get into heavier haulage and had been offered a contract at Amazon if they could get the right truck. No first year accounts had been produced so the banks weren’t willing to lend based on this limited trading history. The right truck had been found and the client needed to raise the funds quickly to secure it.

 

Finance Background

  • Private limited company
  • Property owner
  • First year trading accounts not yet produced
  • Steady cashflow from van delivery business
  • Bank not able to help because no trading accounts

Alchemy Funding Approach

  • Type: Sale & Leaseback
  • Term: 60 months
  • Client paid £5000 deposit for truck direct to vendor
  • Funding security to value: 50%

Security

  • Truck
  • Van

Rate

  • 6.9% net

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