Product: Hire purchase
Facility size: €300,000
The company operates nationwide and specialises in all types of groundworks including site clearance, development and drainage, rock breaking, pipe laying, foundations, car parks and shuttering. They needed to buy a brand new excavator and a dump truck but didn’t have the cash up front to do so.
Having worked with Close Brothers to help acquire similar assets over the past two years, they contacted the team once again for financial support. A €300,000 hire purchase agreement was put in place meaning they could buy the equipment immediately, and spread the cost over the lifetime of each asset.
The speed of decision on the finance agreement was crucial and they have now been able to start increasing production and moving forward with new contracts.