Tarmacadam

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

A business based in Surrey and specialising in landscaping, driveways, property maintenance and tarmacadam 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 before this windfall year and this meant that he was finding it impossible to obtain any new borrowing.

The owner’s accountant introduced the business to First Financial and through our extensive lending panel and knowledge of the industry, we were able to structure a deal, obtaining finance that enabledthem to purchase a new 18T Iveco truck with a tarmac body and Terex rollers.

Thishas seen this business go from strength to strength and 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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