We were delighted to support a long-standing client in the waste and recycling sector who was upgrading one of their shredding machines. The new machine was being purchased from a well-established supplier within the industry , one we’ve worked with successfully on several previous transactions.

Our client operates a fleet of heavy-duty recycling and processing machines, which are hired out to third parties across the UK. When financing assets that are rented to end users, it’s important for lenders to understand the nature of the hire business, how the machines are used, and who the end users will be. This ensures the finance package is structured appropriately and that both the client and funder are protected throughout the agreement.

As part of the transaction, one of the client’s existing machines was taken in part exchange for £90,000, and they contributed a £100,000 cash deposit. Funding was then arranged for the remaining £290,000 over a 60-month term.

Once funding was approved, the paperwork was raised quickly for signing. Timing was critical, as the asset inspection needed to be completed while the new machine was briefly onsite before going out on hire. To keep everything on schedule, we met the client on-site to complete documentation and carry out the inspection. The paperwork was submitted to the funder, and funds were released within hours, all on the same day.

This transaction highlights our experience in providing fast, flexible finance solutions for businesses in the hire sector.

If your business hires out vehicles, equipment or operates a machinery fleet and is looking to invest in new assets, get in touch with the team at Wise Business Finance. Our team has the expertise to make the process smooth and efficient from start to finish. email enquires@wisebf.co.uk