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TVAF 7 West Mills Yard, Newbury, Berkshire, RG14 5LP
Many businesses have a desire for growth, but lack of available cash prevents them from realising their ambitions. This Hampshire-based precision engineering company was no different when they were unable to secure the £90,000 finance required to develop a new water treatment works.
Their traditional lender was unable to take security over the intangible items involved in setting up this new project, which involved building work, electrical wiring and plumbing.
Having been introduced by a local professional services firm, Thames Valley Asset Finance identified that they had recently completed repaying loans on a number of machines such as CNC lathes and mills. Having arranged an independent valuation from three of our specialist lenders, we were able to refinance the machinery which was used as security for the loan.
The client was able to continue to use the valuable machinary to run their business, but they could benefit from the £90,000 cash injection in to their business to allow them to fund their water treatment works. When the refinance deal is complete, the client will own the assets outright again.
This customer had hidden value in their balance sheet which was an excellent way for them to raise the cash they needed to grow their business.