Scaffolding company leasing business-critical equipment

Time-critical finance:

Term: 3 years
Amount: £150,000
Feature: secured equipment leasing

A fast-growing scaffolding company had been picking up new contracts faster than originally expected.

The directors could access additional staff and labour resources, but needed to purchase additional scaffold poles, boards, hoists and other equipment in order to grow the business.

To add to the company's challenges, they'd experienced financial difficulties in the recent past and a number of CCJs had been registered against the business.

Accredo's underwriters liked the business plan as well as the quality of the companies the borrower was starting to contract with.

Outcome

Accredo agreed a lease for £150,000 secured by a charge over the directors' residential address.

The predicted cash flow comfortably supported a three-year lease, with the equipment delivered and the supplier paid within a three-week period.

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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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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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