The Challenge
PMD were recently approached by a new start business in the haulage and transportation sector with a pressing need for funding to acquire three used 2021 plate DAF trucks.
The total financing required was approximately £250k, with a 10% deposit. However, the client was presented with a typical challenge faced by many start-ups: obtaining a VAT deferral over five years. The customer also had an urgent requirement to deploy these trucks for contractual obligations, which added to the complexity of the deal. This therefore required a swift and hassle-free funding solution.
The Solution
Sabrina Scotson, an experienced Business Development Director at PMD, quickly identified that asset finance was the ideal route for this client. Leveraging PMD’s extensive network of lenders and strong industry relationships, Sabrina pinpointed a lender capable of meeting the customer’s specific needs, including the critical element of VAT deferral.
Her strategic approach and knowledge of the market enabled her to secure a lender who could deliver a rapid turnaround, meeting the customer’s tight deadline.
The Result
In a remarkable display of efficiency, PMD successfully negotiated three separate finance agreements through three different lenders, all at competitive rates tailored for a new start business. As well as this, all agreements received approval within just 24 hours.
Sabrina’s service on this deal ensured the client’s requirements were not only met, but exceeded, with minimal disruption to their operations. This quick turnaround allowed the customer to seamlessly fulfil their contract obligations.