£300,000 new HIAB crane lorry funded for a South Yorkshire haulage company to win a new lifting contract
Where it left the business
The vehicle was funded and on the road within 5 days, allowing the client to mobilise for the new contract on time while preserving cash reserves for day-to-day running costs.
Supporting facts
The ambition
A South Yorkshire haulage company needed a new HIAB-mounted lorry to take on a lifting and delivery contract with a regional builders' merchant, but wanted to keep working capital untouched for fuel and driver costs. The finance payment needed to be split across two suppliers, Volvo for the lorry and a separate specialist HIAB fitter.
How the finance was structured
Our team identified a market leading deal for the customer, that met their criteria of a quick turnaround but also meeting their monthly payment requirements. We sourced a Hire Purchase facility from a lender specialising in commercial vehicles with crane attachments, structured over a 60 month term with a competitive rate reflecting the strength of the client's trading history. In addition, we arranged a 4 month VAT deferral to accommodate their VAT cycle.
What it made possible
The vehicle was funded and on the road within 5 days, allowing the client to mobilise for the new contract on time while preserving cash reserves for day-to-day running costs.
Client details are anonymised. Figures are the facility terms published for this case; lenders make their own credit decisions and every case is assessed individually.
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