United Trust Bank Asset Finance has provided a £319,000 hire-purchase facility to support the expansion of a waste management company in the South-East.
The funding enabled the SME to purchase a Caterpillar 360 material handler.
The deal was introduced to United Trust Bank (UTB) broker relationship manager Thomas Edwards by Martin Ball, sales director at First Business Finance.
UTB senior underwriter Rob Irving sought further information about the company’s debt position. He worked with Ball to obtain additional details from its accountant before approving the facility.
Ball says: “This wasn’t a vanilla proposal, but Rob quickly requested the extra financial information he needed, analysed the customer’s position and offered the funding required on competitive terms.
“This combined with excellent support from Thomas Edwards ensured the deal completed on time and enabled our customer to continue growing their business.”
Edwards (pictured) says: “This deal was a great example of why encouraging direct communication between experienced brokers and underwriters is so important.
“The customer had a complex debt position but once Martin had provided Rob with all the information he needed, Rob was able to view the whole picture and structure competitive terms to meet the customer’s requirements.
“By combining expertise with a flexible, supportive approach UTB continues to deliver great service to brokers and excellent outcomes for customers.”
