TVAF - Vehicle, Equipment & Asset Finance Company
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To the latest edition of our periodic newsletter, or first in 2013. So what is happening in the asset finance market place in the UK?
In our last newsletter, we stated that many of the leading UK lenders were withdrawing from the market place or downsizing their offering. This was highlighted by the announcement from ING Lease (UK) Limited in late 2012, stating that they were closing their UK office with immediate effect. ING wrote circa £100M of asset finance business per month, this via a third party network of brokers and equipment suppliers. The immediate question from many in the industry was "who would fill that funding gap?"

Well, in the main the other UK asset finance providers appear to have recruited key ING personnel with Aldermore Asset Finance, along with Hitachi Asset Finance (it appears), having taken up a large proportion of the previous business that intermediaries were placing with ING. At TVAF, we continue to benefit from the fragmentation in the UK market place.

Indeed, an ever increasing number of professionals in the Thames Valley are turning to us, in order to assist their client base. In 2013 we have taken instructions from several local Accountants, a number of Commercial and Corporate Bank Relationship Managers, along with Factoring/Invoice Finance providers.

As the founder of TVAF, I am immensely proud to see that our reputation, professionalism and ability to deliver outstanding client service is delivering first class asset finance solutions to local SME's time and time again. If you have not yet had experience of dealing with us, please do get in touch.

In this latest edition of our newsletter, we also review a couple of our recent larger transaction successes. In addition, please enjoy the feature on sports and performance cars, this written by Steve Kayll Business Development Manager for both our TVAF and Fast Car Finance divisions.

We trust you find this latest newsletter informative and look forward to working further with our clients, existing partners and new introducers through the remainder of 2013 and beyond.

Andy WiseAndy

Andy Wise, Director
Thames Valley Asset Finance Limited
Icon Recent case studies
Case study one
TVAF raises £56k for Isle of Wight contractor

Case studyTVAF was recently approached by a local invoice finance factor/discounter to see if we could assist one of their prospects. The business was a longstanding and highly profitable electrical and scaffolding contractor. The Directors urgently needed to raise additional working capital to meet initial "up front" costs on new contracts they had tendered for and had subsequently secured. We identified that the easiest way to do this was to refinance a number of commercial vehicles that the business owned.

TVAF were aware of the timescales and upon receipt of the asset details and financials, a facility was approved via a suitable finance house within 24 hours.

A sale and Hire Purchase back facility was utilised to raise the cash, in effect the customer sold the unencumbered assets to the lender (with an option to buy them back at the end).

The complete funding process took approximately two weeks and the client was in funds just 48 hours after the site visit, asset inspection and signing of the legal documents. The factor did have an in-house asset finance arm but they did not offer a "refinance" facility.

TVAF's knowledge of the assets on offer, coupled with our extensive panel of lenders meant that we were quickly able to find a solution.
Case study two
Bookbinders grow with the assistance of TVAF

When TVAF was recently approached by a local Accountancy practice to assist a client, TVAF was eager to try and assist.

The client was a specialist bookbinding company and wished to invest in new digitally operated book binding equipment. The equipment would secure additional work for the business and offer a unique binding solution not previously seen in the UK.

The customer had already unsuccessfully approached Lombard (part of their bank) but they would not advance further funds, in part due to current exposure levels. Another high street bank had also declined to assist, due to the transaction size being too small for them and the assets deemed as to specialist.

TVAF assisted by seeking an agreement from the supplier of the equipment, requesting they provide a "buy back" guarantee to the proposed lender.

We did this due to the specialist nature of the equipment and its unknown resale value in a distressed sale. Once this was in place, the lender was quickly able to approve the loan with a 90% LTV and the balance payable over three years.

Since drawdown, we have assisted the client further with additional equipment finance, to include the funding of a mezzanine floor, demonstrating our ability secure equipment finance on a wide range of assets.
Icon A day in the life of our sister business
Fast Car Finance
Many of our regular readers will know about our sister business "Fast Car Finance". Indeed, several of our loyal introducers and clients often ask what types of cars we get involved in financing. With this in mind, here Steve Kayll details just some of the cars that we have arranged finance for over the last few months. Steve says...

"At Fast Car Finance there is a popular myth that we just finance expensive and exotic cars, the truth is that such cars are just a small part of what we offer. We finance all makes and model of car (both new and used) and are just as content to finance a £10,000 used BMW 3 series for a salesman, as much as we are an Audi or a Porsche for a company director."

"A growing part of the business is to release the cash or equity that some collectors have within their cars. A recent example of this was the CEO of a property company who owned a beautiful 1994 Ferrari 456. He was trying to raise £25,000 quickly to complete on a commercial property purchase and was struggling with timescales. We took some details from the client of the car (model, mileage, V5 etc) and had a valuation back within two hours. We then met the client, inspected the car and a facility was approved and drawn down within a week. The client was delighted because not only was the funding concluded quickly but he also got to keep his car, faced previously with having to sell it to raise the money he required!"

"A more typical day to day transaction is financing a family or saloon car. One of our introducers (an IFA) recently contacted us to see if we were interested in financing a new Volvo for his wife. The supplying dealer had tabled a finance quote at 12% APR, we were able to save him £40 per month by offering him a lower APR."

"Lastly, we recently financed a used Maserati for a returning client. The car was seven years old and attractively priced. Cars of this age offer great value for money and we were able to offer the client four year funding, a final "balloon payment" and consequently a very attractive low monthly repayment."

For all car finance enquiries contact us on 0844 561 7424 or
Icon Summary
Our business is now entering its eighth year of trading, something we could not have done without the huge support we have had from our many introducers and clients, many of whom we see return to us time and time again. Thames Valley Asset Finance now has over twenty lenders on our panel, lenders that are able to provide funding across almost all industry sectors. We can arrange vehicle and equipment finance for new start-ups, distressed businesses, and those looking to make acquisition(s). This is in addition to our longstanding ability to offer asset finance to established trading companies, those that simply need additional or new asset funding lines (perhaps where their existing "own bank" asset finance line is capped).

We provide vehicle and equipment finance on new and used assets from £10,000 to £1 million. We also have significant appetite for undertaking asset re-finance, in particular where a client has traditional "oil dripping" assets that are perhaps undervalued on a balance sheet (and/or are free of existing HP/Lease Finance). With many SME's still seeing working capital facilities (i.e. bank overdraft) eroded by their clearing bank, the re-financing of assets to release cash into a business is often a quick and convenient way to ease cash flow pressures or raise additional cash for expansion. If you are keen to understand more about the range of vehicle, equipment & asset finance solutions that TVAF can organise, please contact Andy Wise on 07787 551174 or Steve Kayll on 07770 847457.

If you are an individual or business requiring help on any aspect of asset, equipment or motor finance then we look forward to hearing from you. Similarly, we continue to welcome enquiries from bank relationship managers, factors, invoice discounters, suppliers and professional intermediaries who are seeking advice and support in organising asset or vehicle finance facilities for their clients.

Thank you for reading this latest edition of our newsletter, as ever if you do not wish to be on copy of future publications, please let us know by telephoning us on 0333 1212 400 or e-mailing

TVAF Trusted, Valued, Approachable, Flexible
September 2013
In this issue:
Recent case studies
News in brief
A day in the life
Fast Car Finance
New car finance
Used car finance
4 x 4
Family & saloon cars
All makes & models
Finance arranged from £10,000 upwards
Hire Purchase
Personal Contract Purchase (PCP)
Contract Hire
Find out more
TVAF News in brief
Close Motor Finance partners with TVAF to provide vehicle finance solutions to SME's
TVAF funds £30k of unsecured assets to include furniture, a telephone system and kitchen equipment for a West Midlands based service office provider
£100k equity released from a car fleet for a "green energy" London taxi operation
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Thames Valley Asset Finance provides Asset, Vehicle and Equipment Finance solutions for UK businesses in the Commercial and Corporate sectors, including machinery finance, lease purchase, finance lease, construction finance.

© Thames Valley Asset Finance. Thames Valley Asset Finance Limited is a credit broker and not a lender. Authorised and regulated by the Financial Conduct Authority. All rights reserved.