£50,000 for an agricultural contractor for debt consolidation
Location: Nr-Colchester, Essex
General Background
This midsize agricultural contractor was struggling with cashflow as a consequence of 5 outstanding finance agreements and late payments by clients. Other lenders he’d approached required a charge on a property but he wasn’t a property owner. He also had a bad credit history with several CCJ’s and missed payments on some of the finance agreements.
Finance Background
- Partnership
- No property owned
- Maxed overdraft at £60,000
- Five other finance agreements
- Previous CCJ’s
- Business showed a loss last financial year
- Not a viable client for the high street banks
Alchemy Funding Approach
- Type: Sale & Leaseback
- Settlement of 5 outstanding finance agreements into a single agreement with fixed monthly payments
- Term: 48 months
- Funding security to value: 45%
Security
- 2 x tractors
- Telehandler
- Combine harvester
- Mitsubishi Shogun
- Tedder
Rate
- 7.2% net
Location: Nr-Colchester, Essex
General Background
This midsize agricultural contractor was struggling with cashflow as a consequence of 5 outstanding finance agreements and late payments by clients. Other lenders he’d approached required a charge on a property but he wasn’t a property owner. He also had a bad credit history with several CCJ’s and missed payments on some of the finance agreements.
Finance Background
- Partnership
- No property owned
- Maxed overdraft at £60,000
- Five other finance agreements
- Previous CCJ’s
- Business showed a loss last financial year
- Not a viable client for the high street banks
Alchemy Funding Approach
- Type: Sale & Leaseback
- Settlement of 5 outstanding finance agreements into a single agreement with fixed monthly payments
- Term: 48 months
- Funding security to value: 45%
Security
- 2 x tractors
- Telehandler
- Combine harvester
- Mitsubishi Shogun
- Tedder
Rate
- 7.2% net
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