Example of Asset Refinancing: £50,000 for debt consolidation
Location: Nr-Colchester, Essex

General Background

This midsize agricultural contractor was struggling with cashflow as a consequence of 5 outstanding finance agreements and late payments by clients. Other lenders he’d approached required a charge on a property but he wasn’t a property owner. He also had a bad credit history with several CCJ’s and missed payments on some of the finance agreements

Finance Background

Partnership
No property owned
Maxed overdraft at £60,000
Five other finance agreements
Previous CCJ’s
Business showed a loss last financial year
Not a viable client for the high street banks

Alchemy Funding Approach

Type: Sale & Leaseback
Settlement of 5 outstanding finance agreements into a single agreement with fixed monthly payments
Term: 48 months
Funding security to value: 45%

Security

2 x tractors
Telehandler
Combine harvester
Mitsubishi Shogun
Tedder

Rate

7.2% net