Financing the foundations for growth

Hire Purchase Case Study Commercial Finance

Customer: Source Civil Ltd

Industry: Construction Water Management 

About Source Civil Ltd

Established in 2007, Source Civil Ltd specialises in providing pipelines, treatment plants and reservoirs to both public and private clients in the sanitary services sector.

Business Challenge and Solution

In order to continue to deliver a high-quality, cost-effective service the business has to frequently invest in new plant and machinery. Source Civil Ltd could not solely fund the new machinery and sought financial advice from Close Brothers Commercial Finance. 

After looking at the business case and applying his knowledge of the industry, Cecil Doherty -  Sales Director Donegal, structured a deal that enabled Source Civil Ltd to purchase two new Hitachi excavators. This arrangement means that Source Civil Ltd can spread the cost of the asset over a set period of time which makes it easier to budget and helps with cash flow. Hire Purchase is particularly suitable for acquiring vehicles, machinery, construction and commercial equipments with a resell value. 

Bernard, Financial Controller at Source Civil Ltd, said, “Cecil Doherty is a real pleasure to deal with and the service I receive from Close Brothers Commercial Finance is first class. Cecil’s knowledge of the construction industry is second to none and he is always available to provide strategic advice to support our business”.

To find out how we can help, call today on: 01 871 1060