The Range, based in Left Bank, Manchester, houses 5 highly-advanced golf simulators. They allow members and non-members to play 100 of the finest golf courses on the planet. All without leaving the city centre. The venue has been established by 31-year-old Andrew McLoughney. Andrew is a former +2 handicap golfer, who decided to bring a unique golfing facility to Manchester City Centre. Inside you could mistake the surroundings for a high end golf club with quality bar and restaurant facilities. Providing a relaxing environment away from the stress of the city.
PMD got a request to consider an asset finance facility for this new start venture. This would provide funding for a wide range of ‘soft assets’ including golf simulators, furniture, catering equipment and lighting. After getting advice from a high street bank that the maximum possible leverage from an asset finance facility would be £100k, PMD were able to provide a £379k finance lease facility, which includes stage payments to suppliers, over a 5 year term.
Andrew McLoughney commented:
“PMD took the time to fully understand our concept and were able to provide a facility that accommodated our full asset finance requirements. Whilst the high street banks were seeming to be very choosy over the assets that they finance, the focus from PMD was around our business plan and our vision for the new venture. It’s refreshing to see that there’s still appetite in the finance marketplace to fund new start business on this basis.”