Case Study for Senate Money - £1.1m Asset Finance Solutions

We raised a £1.1 million Asset Finance Backed Loan in a Short Time-Frame

Here at Senate Money one of our main areas of expertise is providing asset finance solutions for our clients to help their businesses grow. Using our experience and know-how from our Birmingham base, we work closely with our clients across the country to get them the best possible deal. This case study looks at a recent client for whom we raised a loan of £1.1m, backed by asset finance.

The details of the Asset Finance Solution

This client – new to Senate Money – was referred to us by one of the high street banks who we have a strong and on-going relationship with. The client wished to raise significant funds against a large number of assets - vehicles and equipment - that the company had purchased outright over the previous eighteen months.

In view of the size of the requested facility (£1million +) together with the tight time frame the customer wished to work to, we immediately suggested an independent valuation. The list of assets included a number which were quite specialist in nature so a detailed knowledge of the customer’s sector was important to get an accurate valuation. In addition to this we quickly arranged a meeting with the client to assess the feasibility of the transaction and the likelihood of a successful outcome.

After the meeting Senate Money instructed the independent valuers for the assets that were to be used as security for the refinance facility to proceed. We received a favourable valuation from them. The next stage was to speak with a number of Asset Finance companies across the market. We were then able to identify the best finance option for the situation. By working closely with them and our client, we quickly obtained terms that were acceptable to the client.

Before the formal offer was approved the finance company had to do their own inspection of the assets to be used as security for the loan. This went smoothly, thanks in great part to the 3rd party valuation. Documentation was prepared and signed, and the loan facility of £1.1 million was then drawn down within the time-frame required by the customer.

Asset Finance Solutions for Business Growth

Asset finance is one of the many ways that Senate Money, as a Business Finance Consultancy, can help raise the funds that businesses need to grow.

We’re independent, which means we’re not tied to any specific finance provider. With over 25 years of experience of raising business finance we know where to go to get the best deal for your business’s needs. We’re also authorised and regulated by the Financial Conduct Authority, which means you can trust the advice we give and the recommendations we make.

If your business is looking for asset finance solutions to raise funds, we would be delighted to hear from you. Contact or call us on 01675 443878 for a FREE initial chat.