Engineering the right deal
When the management team of a business decides to part and go separate ways, implementing the departure can be a financial headache.
We were contacted by XL Engineering to see if there was some way they could raise money to buy out a director. From the initial phone call, the director was able to list the equipment he had in-situ, which had a couple of payments outstanding to his bank. We quickly assessed the business and were able to ascertain there was plenty of equity in the equipment, enabling us to lend what he needed and settle the bank’s finance at the same time.
Refinancing equipment in this way can be an excellent solution as the funds can be used for any purpose, and in this situation it was a swift and easy fix.
Case Studies
You’d think that dealing with a large finance company for over 10 years…
