A customer new to UTB wished to fund a brand new mini coach through one of our long established broker partners. The vehicle was required for a new, long term contract but it would take a few months for the revenue from the contract to build up. It was therefore important to structure the payments to suit the terms of the contract, together with an initial VAT deferral, to ensure that the customer’s requirements were fully accounted for.
Our broker’s long standing relationship with this customer was an important factor in enabling us to consider the initial funding requirement, with the low initial outlay offered. However, our own valuation of the vehicle confirmed that the pricing was very competitive and we therefore felt that our initial exposure position was not excessive. This allowed us to agree a bespoke payment structure for the first few months of the transaction in line with the
customer’s requirements.
The funds were released within a few days as soon as signed documentation was received.
Loan of £60,000