Categories:
Asset finance, equipment finance, recycling & waste industry
Spec
| Industry area | Loan details | Turnaround |
| Waste & Recycling | £150,000 – 6 years | 2 weeks |
Situation
Our client is a recycling business based in Penzance, Cornwall. Having built a strong track record processing material for the local construction and waste sectors, they identified an opportunity to upgrade their processing line with a new shredder that could take on the work of two separate machines. The existing set-up was reliable but ageing, requiring more frequent maintenance and slowing down throughput at busy times.
The new machine, a Terex Ecotec shredder, offered the latest fuel-efficient technology and the ability to combine two processing stages into one, but came with a price tag of £150,000, which made business sense to finance rather than draw down their own cash reserves.
Strategy
Having worked with this client before, I understood their business and their appetite for growth, which made it straightforward to identify the right solution for this purchase. This modern equipment provided a genuine improvement in efficiency, reduced maintenance costs, and less downtime, all of which strengthened the case to our panel of lenders.
I approached my suite of lenders to find a solution that matched the earning potential of the new machine, ensuring the repayments would be comfortably covered by replacing existing finance, efficiency savings and improved margins the client expected to see once it was in operation.
Solution
Securing the full £150,000 required, allowed my client to bring in the new machine without disrupting their cash flow. We secured a convenient 6 year term for this vital piece of equipment. This provides a budget-friendly monthly payment that matches the expected lifespan of the equipment in its busy environment, an important consideration for customer and lender.
The business has since put the machine straight to work, and is delighted with how it’s performing.
Ross says: “It’s great to continue working with this longstanding customer to better support their capabilities and seal their next stage of growth. We’re much looking forward to hearing about all the benefits it brings to the business.”
If you have aging machines which could be better served by new technology which reduces running costs and downtime, lets talk today. Finance offers much flexibility from day one, we help our customers to find the right solution.
