Maintenance Business

Service(s): Commercial & Asset Finance
Sector: Construction

A maintenance business, based in Surrey and specialising in landscaping, driveways, property maintenance and tarmacam for commercial and residential clients, had seen a massive increase in business, following the poor winter which left a high number of pot holes on the road.

They were winning contracts with local highways agencies, but did not have the equipment to fulfil these contracts. They, therefore, had to rent equipment on daily rates, which was proving very costly and was eroding the potential underlying profit.

The owner of the business was a non-home owner with a previously poor trading record. This meant that he was finding it impossible to obtain any borrowing.

The owner’s accountant introduced the business to First Financial and, following a thorough consultation with them, we were able to obtain finance for their business. This enabled them to purchase a new 18T Iveco truck with a tarmac body and Terex rollers, enabling their business go from strength to strength. They are now operating throughout most of M25 orbital, with Highways and Street Works Accreditation to carry out work on public highways, pavements and dropped kerbs.

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