£95,000 for haulier business going electric
Location: Northampton
General Background
This successful 10 year old national haulier business wanted to demonstrate its green credentials and at the same time improve their profitability, this would be achieved by entering the rapidly expanding last mile delivery market. To improve their profitability they needed to lease a new fleet of electric vans but they needed the capital for the down payments. They approached several banks but they weren’t able to help because of tightening lending criteria as a result of Covid-19.
Finance Background
- Private limited company
- Directors were both property owners
- Trading accounts showed reasonable profitability
- Steady cashflow from traditional national haulage business
- Bank not willing to lend due to tightening lending criteria
Alchemy Funding Approach
- Type: Sale & Leaseback
- Term: 36 months
- Funding security to value: 47%
Security
- Truck x4
- Refrigerated trailers x3
Rate
- 5.33% net
Location: Northampton
General Background
This successful 10 year old national haulier business wanted to demonstrate its green credentials and at the same time improve their profitability, this would be achieved by entering the rapidly expanding last mile delivery market. To improve their profitability they needed to lease a new fleet of electric vans but they needed the capital for the down payments. They approached several banks but they weren’t able to help because of tightening lending criteria as a result of Covid-19.
Finance Background
- Private limited company
- Directors were both property owners
- Trading accounts showed reasonable profitability
- Steady cashflow from traditional national haulage business
- Bank not willing to lend due to tightening lending criteria
Alchemy Funding Approach
- Type: Sale & Leaseback
- Term: 36 months
- Funding security to value: 47%
Security
- Truck x4
- Refrigerated trailers x3
Rate
- 5.33% net
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