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TVAF 7 West Mills Yard, Newbury, Berkshire, RG14 5LP
A manufacturing client based in Dorset had commissioned the installation of a £32,000 radiant heating system to replace the old and inefficient system currently in their site, so that they could benefit from a better heating system in a large space and less expense on energy bills.
In most circumstances, a loan would be paid out in full, however because of the complexity of this project, the client was required to make several stage payments to the supplier over a number of weeks.
Thames Valley Asset Finance arranged for the finance to be approved on a “Sale and Hire Purchase back” facility. This meant that the client made all of the stage payments directly to the supplier, then received reimbursement from the lender once they provided evidence that the installation had been paid for.
This type of finance arrangement allowed the client to pay for the project in stages which minimised their risk, allowed them control over the monthly payments, and made sure their cashflow wasn’t tied up in this project over a long period of time.