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Heavy commercial vehicle finance

CASE STUDY

Background

Factfirm Ltd was introduced to us as a supplier in respect of another of our customers during the latter part of 2013. It transpired that they too were looking to finance of a Scania heavy commercial vehicle for their haulage business and, whilst an offer had been made to them by the manufacturer’s own lender, asked us to also quote for the business.

Challenge

Whilst Factfirm had been trading for many years Dan Chubb had only recently joined his father as a Director with the aim of growing the business and increasing profitability. The challenge, therefore, was to secure funding to compete with the manufacturer, at a very competitive rate. To do this we needed to look to one of our prime lenders whose strict underwriting criteria had to be satisfied.

Solution

By thoroughly researching the customer, which involved a meeting with the Directors and their Accountant and having obtained the necessary financial and background information, we were able to present a comprehensive application to the lender.

Outcome

The finance application was successful and since then we have gone on to write additional business with this customer.

Client Comment

“An excellent company to deal with. From start to finish the whole process was made easy and stress free and I would recommend to anybody looking for finance. Big thank you to Melanie.”

Dan Chubb, Managing Director, Factfirm Ltd

IN BRIEF

Client
Factfile Ltd

Project
Finance heavy commercial vehicle

Deal value
£1,000,000