Stance Asset Finance has provided a £350,000 facility enabling a vehicle leasing business to acquire nine new light commercial vehicles.
The asset finance brand, launched by United Trust Bank, said the agreement would allow the customer to preserve working capital while continuing to invest in its fleet and pursue growth plans.
The transaction was introduced by Hart Asset Finance and structured by Rebecca Walton, regional broker manager at Stance.
The customer required a credit line to purchase vehicles for subsequent leasing to businesses and daily rental operators. The facility includes a tailored 12-month repayment profile and balloon payment.
The payment schedule comprises an upfront payment, an enhanced payment in the second month and lower monthly repayments thereafter. Stance approved the structure proposed by the broker to reflect the customer’s cash flow requirements.
The lender said the case demonstrated the role it intends Stance to play in the specialist asset finance market. The customer had previously been assessed under a more traditional lending framework, but the launch of Stance allowed the proposal to be reconsidered.
Walton (pictured) says: “This is exactly the type of deal Stance was created to support. The broker understood their client’s business and proposed a structure which reflected how they wanted to manage their cash flow.
“We were able to review the proposal on its merits and deliver a solution which worked for everyone.”
Billy Hart, managing director of Hart Asset Finance, adds: “Rebecca has been a delight to work with and has been able to assist in helping with some of my more bespoke funding solutions.
“After talking through a particularly complex deal, she assured us that this was the sort of transaction Stance would be willing to consider.
“The customer had a clear requirement and a repayment structure in mind which reflected the way their business operates. Stance took the time to understand the proposal, approved the deal as presented and delivered a funding solution tailored to the customer’s needs.
“That’s exactly the sort of flexibility brokers value when supporting clients with more specialist requirements.
“I couldn’t recommend Rebecca enough for all her help and support and look forward to working with Stance further in the future.”
