Finance Lease For New Ice-Cream Kiosk

“I like Asset Advantage because they are really commercial. They don’t just look at the net worth of the company, but the people behind it, and they paint a picture of how viable it might be in the future."

Thank you to Paul Horan, Director at Latitude Leasing Ltd for working with us on this deal.

Paul’s client are a successful family-owned restaurant business.

This deal came to Paul, as the son saw an opportunity to open a new ice-cream kiosk in a busy city-centre shopping mall.

This was a new concept for the business, and a new site, but with the family’s strong experience in the sector, and the good location of the kiosk, it had the potential to be very successful.

The funding requirement for the size of business was quite large however, as he needed the shell of the kiosk, in addition to the the ice-cream cabinets and fridges funded.

The client needed finance for a Gelato Kiosk, Ice Cabinet, Ice Lolly Cabinet, Under counter fridges, and a Serve-over counter, coming to a total of £71,000, this represented a sizeable lend for the business.

Crucial to this deal, and to the satisfaction of the client, was the fact the finance was offered on finance lease, with a stage payment. This ensured that the client did not need find additional money to pay a deposit to the supplier, and was key to getting the new kiosk up and running.

Paul Horan said: “I like Asset Advantage because they are really commercial. They don’t just look at the net worth of the company, but the people behind it, and they paint a picture of how viable it might be in the future."

In this case, I sent the deal to Asset Advantage because it was a big lend for the size of the company, and it was a new site and a new concept for the existing business. This could have made it harder to place with other lenders. I also knew that Asset Advantage would be keen to do the whole deal, rather than just a part of the deal. And this makes it much easier for the client to manage, only having one payment per month.”

Insight from Vickey Want, Assistant Director of Credit at Asset Advantage: “This customer was very experienced and branched out from the family business, having spotted a gap in the local area. The family business was well established and the new venture is in a good location and is a good opportunity for the business.”