New Broker – New Business
Close Brothers Leasing, Specialist Finance recently onboarded a new broker who has already successfully written their first deal with us.
The broker was referred to the Close Brothers Leasing, Specialist Finance team by our Invoice Finance colleagues as part of our ‘One Close Brothers’ strategy where we collaborate and refer customers - with the intermediary’s permission - to other Close Brothers teams for potential new business opportunities.
The opportunity involved meeting with a new customer, who are specialists in their field, to:
- Understand the rationale for the investment in submersible surveying equipment (operating in UK waters)
- Their business model
- Their customer base
- The contracts they hold
The customer holds several contracts with exploration companies where they physically operate the asset, which is an important consideration for Close Brothers because it means the customer has full control over the submersible.
Together with the customer’s decades of experience and the knowledge that the asset can be tracked and operated by the customer meant we could quickly arrange the finance.
After valuing the asset, we created a structured deal where Close Brothers Leasing, Specialist Finance arranged for the funding of the asset on a Sales and Hire Purchase Back agreement with sight of the original supplier invoices and proof of payment.
The feedback from the customer was very positive and they were impressed by the speed of response, from the initial meeting to completion.
Customer feedback on the agreed structure: ‘There were a number of impressive aspects to this deal. In addition to the speed at which the transaction was agreed, it was clear Close Brothers understood the asset, are willing to fund non-standard assets, and were willing to listen’.
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