Success Stories

Engineering Company - North East

Customer's objectives:
   • Purchase new computer system to upgrade an outdated IT infrastructure
   • Raise funds to extend the factory to make room for the purchase of new plant and machinery and to
     give more operating space

Problems to overcome:
   • Existing bankers were fully committed

Deal structure:
Refinanced existing machinery, paid off outstanding finance and gave equity in machine back to company to fund purchase of new computer system, leaving enough money to fund the development work and purchase the new plant and machinery

Conclusion:
Customer has not had to give further security to bank by way of property charge. The equity released in the existing equipment and the payment profile means rentals are identical to their current commitment.

« BACK