Finance Lease – Printing Equipment For New-Start Business

"A comprehensive and well thought out business plan from a New-Start customer who had experience in the print sector."

Thank you to Stephen Price, Director at Ilsley Finance, for working with us on this transaction.

A very young print business required funding for printing equipment to bring fulfilment of their growing order book in-house.

However, due to the very modest balance sheet and limited trading history, the business was struggling to find finance for the necessary equipment. They had been offered funding for some, but not all of the business-critical equipment, and the deal was in the process of being syndicated across 5 different lenders when Stephen Price was introduced to them.

The client came to Ilsley Finance through Morgana Systems Ltd, for whom Stephen provides facilities on a regular basis. Stephen is a 45-year experienced broker, and immediately recognised that there was more to this proposal than met the eye. He asked the customer to prepare a clear explanation of their needs and future plans; that then enabled Stephen to present the proposal in its best light, which in turn led to a prompt and positive decision.

Stephen knew that this was a clear deal for Asset Advantage:
✔ New start business
✔ Asset Advantage would have the appetite for doing the whole deal, not just parts of it.
✔ Crucial to getting the deal approved was the expertise, existing contracts, and solid business plan of the director.

£92,183 Finance Lease over a 5 year term for printing equipment.
Asset Advantage was able to offer a deal to fund all 5 pieces of equipment. Finance Lease was the preferred choice because the customer is not yet able to take full advantage of the tax benefits of Hire Purchase, and at the same time has fewer cash flow issues with which to contend.

Stephen says: “I knew immediately this was a deal for Asset Advantage. The customer was a very new business, but he was clear, focused, motivated, and with good experience and clear forward plans. I knew Asset Advantage would zero in on the positives, and thus focus on the broader picture.

The outcome was that Asset Advantage were able to seamlessly deal with 3 suppliers, in two separate transactions, and as anticipated, the entire process was straightforward. They are a funder who understand business.”

Insight from Philip Knight, Credit & Risk Director: "This was a detailed and well researched proposal by the broker, together with a comprehensive and well thought out business plan from the customer who had experience in the print sector."