New start soft play centre needing to lease equipment

New-start:

Term: 5 years
Amount: £200,000
Feature: secured equipment leasing

Having worked for a number of years in a children's soft play centre, our customer's decided that they wanted to set up their own facility.

After putting their ideas together they settled on a plan, found a premises that could be rented on a 10 year lease situated in a convenient local business park, with no premium and now it was just a matter of how to afford the latest equipment, marketing material, property preparation etc.

Having talked through the business plans, anticipated cash-flow projections and shown their accountant the potential premises, his suggestion was that the £200,000 required could be leased on a fully amortising basis over a term of five years.

Clearly, this would be a challenge for any conventional lessor to lease such soft assets to a new enterprise. However, Accredo were happy to assist and the director's partner was happy for them to offer their residential property as additional security for the advance by putting a second charge in place.

Outcome

Whilst the whole business planning process from start to finish did take nearly a year, Accredo managed to play our part, offer a facility and have it drawn-down within 4 weeks of the initial request.

Our Products

Short term business loans

Our short term facilities have a transparent payment profile of anything from 3 - 18 months allowing your clients to free up cash flow to run their business.

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Long term business loans

Our longer term facilities are available for periods of 5 to 10 years.

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Secured equipment leasing

Purchasing equipment outright often requires a significant investment. Accredo provides secured equipment leasing options for most asset types including second hand equipment as well as leases for intangible assets such as software.

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Our process

We work through a network of brokers who understand their clients’ needs and are often frustrated by the lack of bank support. They work with us to put in place the right product for each client. Our underwriting decisions are made by people, not computer programs, so we consider risk and security in the widest sense, seeing the true value of a borrower’s proposal. 

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Our products

We provide secured business loans from £25,000 to £1,000,000 specialising in solutions for new-starts, difficult credits and established companies. We lend against residential, commercial, mixed-use and buy-to-let property. 

We aim to give decisions in under three working hours. Our repayment terms are from 3 months to 10 years. And we offer fixed repayments or flexible terms such as seasonal payments, payment holidays and interest-only.

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