Scollick Business Finance - Finance Lease
Scollick Business Finance Limited is a family run business with extensive experience in providing commercial finance
Established in 2005, they have built a network across the UK to provide competitive funding for businesses purchasing commercial vehicles, cars, and machinery.
Their customer is an agricultural contractor that was seeking an affordable finance solution that would allow them to purchase a business-critical asset to fulfil workload.
Finding a suitable solution
The customer was looking to purchase a tractor to help service a new contract that required pulling square bales during the harvest. As their old tractor wouldn’t pull the larger amount the customer required an upgrade so contacted Scollick Business Finance Limited to help find them a suitable lender. Scollick Business Finance Limited have a strong working relationship with Close Brothers Business Finance so contacted Broker Development Manager, James Robins to ask if they had the appetite to finance the asset.
On behalf of their customer, Scollick Business Finance Limited worked closely with the team at Close Brothers Business Finance to structure a Finance Lease agreement which allowed the customer to use the equipment they need without having to buy it outright.
Close Brothers Business Finance were able to write a deal that was tailored to the customers’ needs and cashflow over a five-year period. The customer was only required to pay a low deposit up front, and the monthly repayments were affordable, the customer was also able to claim the VAT back each quarter.
The outcome
The customer was happy with the deal as it was tailored to their current needs and cash flow, but it also offers flexible options when they reach the end of the term. They have the choice of continuing to use the asset, sell the asset or return it.
Scollick Business Finance Limited commented “We have a strong working relationship with many of the UK's top lenders and this is a great example of how we work with lenders to satisfy our customer’s needs. It’s been a pleasure working with James on this one – together we have been able to find a suitable and affordable finance solution for our customer.”
James said “At Close Brothers Business Finance, we work closely with our finance brokers to support their customers by offering to support their customers by offering tailormade asset finance solutions. It’s been great to work with Scollick Business Finance Limited to get this one over the line.”
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