TVAF - Vehicle, Equipment & Asset Finance Company
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Welcome...
To the latest edition of our newsletter, the first we have published in 2012
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Whilst the UK in general, still appears to be in a double dip recession (according to the statistics), there is no doubting that London and the Thames Valley has fared better than most. "Cautious optimism" seems to be the common theme amongst most business owners with whom we are in contact.

The asset finance market place continues to be fragmented, with many of the leading and well known asset finance providers withdrawing from the market or downsizing their operations. TVAF has benefited greatly from this and in no small part, the withdrawal of some lenders in the sector has seen us enjoy a near 15% growth in the last year.

So why is this? To those of you not familiar with the asset finance market, we would advise that Barclays are no longer looking to provide asset, equipment and vehicle finance to SME's with a turnover below £5m, and HSBC will only consider transactions greater than £100,000. Furthermore, many small businesses banking with RBS will soon find themselves transferred to Santander, under the European Commission agreement to sell circa 300 branches.

All this will see a large number of SME's potentially requiring new or replacement funding lines for asset, equipment and vehicle finance. TVAF is well placed to assist these clients, given our strategic partnerships with a wide range of lenders on our panel, something we touch upon in more detail later in this edition.

In this autumn 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 who heads up our Fast Car Finance division.

We trust you find this latest newsletter informative and look forward to working further with our clients, existing partners and new introducers during the remainder of 2012.
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Icon Recent case studies
Case study one
TVAF assists with £975k MBO/MBI for printers

Case study TVAF was recently approached by a factor/discounter to see if we could assist with a BIMBO (Buy In Management Buy Out). The business was a longstanding and highly profitable commercial printer. The incoming Directors wanted to switch to their preferred bankers and this meant the existing asset finance with them needed to be refinanced.

In addition, the Discounter asked if TVAF could raise additional cash to fund the BIMBO. Upon getting the assets (various printing equipment) valued, TVAF was able to identify that the existing Hire Purchase debt could be repaid and that furthermore that additional "equity" existed in the equipment.

TVAF was able to identify the appropriate funder to approach with the refinance proposition (a specialist lender in the print sector) and a facility was approved within a week (despite the large sum involved).

Whilst the subsequent paperwork was complex and the transaction took several weeks to complete, a solution was provided quickly and with the minimum of fuss. The key here was our knowledge of the asset finance market and knowing where to source the funds. The factor did not have an in-house asset finance arm and the clients own approaches to the traditional high street banks had been unsuccessful (due in the main to the leveraged nature of the transaction).
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Case study two
New start vehicle hire business secures £1M funding with help from Andy Wise of TVAF

Case study When TVAF was approached in late 2011 to provide funding for a new start vehicle hire business, the initial requirement was to finance four new vans for the hire fleet.

A third party had already tabled an offer of funding but it became clear to Andy Wise, MD of TVAF that it was not what the client really wanted or required. A meeting followed with the MD & FD and it transpired that they had aggressive growth plans and a need to fund circa £1M of cars and commercial vehicles.

TVAF drafted a proposal document on behalf of the business and presented this and a vehicle buying programme to a number of lenders on our panel. All of these lenders subsequently came back with offers of initial credit lines (circa £100k each) and this enabled us to fund the clients' entire initial stock. This example shows the benefit of having access to a specialist asset finance broker like TVAF.

We knew the vehicle hire sector well and recognised that no "one" finance house would be willing to fund the clients capex. We saved the client time by identifying the appropriate lenders and securing the required funding/debt levels.
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Icon All you need to know about our sister company
Fast Car Finance
Many of our regular readers will know about our sister business "Fast Car Finance". The growth and success of FCF over the last three years has been astounding, so much so that we now have a dedicated Business Development Manager for all client, dealer and intermediary car finance enquiries.

Steve Kayll (Business Development Manager for FCF & TVAF) explains here the success behind Fast Car Finance, along with an insight into just a few of the many cars we have funded to date.


"TVAF took the decision three years ago to create a separate brand for its car buying clientele. TVAF felt it important to differentiate the two core parts of its business, these being asset/equipment finance and car finance. Little did we know at the time just how successful this would be, to date FCF has enjoyed near 100% growth year on year , since the brand was launched in early 2009".

"So why Fast Car Finance? Well, we identified that many of TVAF's clients were either owner mangers of businesses or professional intermediaries. As such, a large proportion of these individuals were often looking for car finance but from a source that could provide a professional service, at a competitive rate and with a range of flexible finance options. Fast Car Finance we set up with this in mind and we now have a growing and loyal client base, to include a number of local prestige car dealerships".

"The last three years has seen us finance over £4 million of cars, with some notable vehicles passing across our desk. We financed a classic £275,000 Ferrari F40 for a collector last year and more recently, a Ford GT40 for a Restauranter. However, don't be fooled into thinking we only finance the rare and exotic; these are the exception and not the rule! Typically, we finance new and used Audi, BMW, Ferrari, Land Rover, Mercedes-Benz and Porsche cars but will look to arrange car finance from any recognised or bona fide motor dealer. To discover more just take a look at some of the finance examples on our recently launched new website".


Alternatively, contact Steve Kayll on 07770 847457 or skayll@fcfinance.co.uk.
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Icon Our Partners
Thames Valley Asset Finance is a traditional asset finance brokerage. As such we do not currently lend our own funds, we source finance via an exhaustive range of finance houses that we work in partnership with. We have worked tirelessly since our inception seven years ago to develop long standing and valuable relationships with a vast range of lenders, to include but not limited to the following partners;
Ford
We currently have lenders able to provide funding across almost all industry sectors. Furthermore, we can arrange finance for new start-ups, distressed businesses, those looking to make acquisition(s) and established trading companies that simply need additional asset funding lines (perhaps where the existing bank asset finance line is capped).

We continue to see a number of finance providers who have a 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 free of existing HP/Lease Finance. With many SME's seeing working capital facilities (i.e. overdraft) eroded by their clearing bank, the re-financing of assets to release cash into the business is often a quick and convenient way to ease cash flow pressures. 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 awise@tvaf.co.uk.
 
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Icon Summary
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 require advice and support in organising asset finance facilities for their clients.

Thank you for reading this autumn edition of our newsletter, as ever if you do not wish to be on copy for future editions please let us know by telephoning us on 0844 561 7422 or e-mailing enquiries@tvaf.co.uk.

Thank you for your continued support.
Yours sincerely,

Andy

Andy Wise, Director
Thames Valley Asset Finance Limited
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October 2012
In this issue:
Welcome to the latest edition of our newsletter
Recent case studies
Fast Car Finance - Our sister company
Summary
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Fast Car Finance
New car finance
Used car finance
Luxury
Prestige
Sports
4 x 4
Family & saloon cars
Cars financed up to ten years old
All makes & models
Finance arranged from £10,000 upwards
Hire Purchase
Personal Contract Purchase (PCP)
Find out more www.fast-car-finance.co.uk
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TVAF News in brief
Investec Asset Finance partners with TVAF to provide vehicle finance solutions to SME's
TVAF funds £60k of soft play equipment for new start business on the South Coast
New £120,000 coach financed at 5.75% APR for a Berkshire coach operator
TVAF arranges £35k equipment re-finance for a company in order to clear the Directors IVA
Find out more Find out more...
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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.