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TVAF 7 West Mills Yard, Newbury, Berkshire, RG14 5LP
Many TVAF clients are introduced via accountants who understand the benefits of working with a specialist broker and contacts who supply funding for different industry sectors.
A commercial printer in Berkshire was looking to invest in two digital printing presses plus a finishing line as they had seen a significant uptick in demand to provide home learning and home working resources for school children and remote workers in response to the pandemic.
Despite an initial dip in turnover due to the pandemic, our client had a very successful business which meant we were able to secure the £260,000 of printing equipment on a traditional Hire purchase agreement.
Whilst we were able to use the equipment for security against the loan, our client was also able to take advantage of the benefits of the CBIL scheme alongside the Hire Purchase facility. This meant they don’t have to make any interest repayments on the loan for the first 12 months and the arrangement fee levied by the lender was also covered by the British Business Bank.
In summary, by securing this Hire Purchase transaction through the CBIL scheme, our client was able to make use of the equipment immediately and with only capital repayments needing to be made in the first year. Plus, as an independent commercial financial broker, we quickly identified the appropriate lender to support our client. We are able to do this because of our extensive panel of funders and the fact that some of or lenders working in specific industry sectors such as print and manufacturing, something that a traditional high street lender cannot provide.