£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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