The Client.
A Hampshire based company, providing solutions to automotive manufacturers and
dealers with numerous offices around the world.
Their services include interior and exterior vehicle protection, air conditioning cleaners,
fuel and oil additives and a range of additional insurances available.
They also buy and
sell vehicles.
The business has been trading since 2003.
The Requirement.
The client wanted to purchase a significant amount of stock.
Rather than a traditional stock loan, the client wanted a facility where he didn't have to
repay the loan as he sold each vehicle - the client wanted to use the funds from each sale
to purchase more stock, therefore having a rolling line of cars to the tune of around
£500k.
The Solution.
Having extensive experience in sourcing funding for the automotive industry, our expert
team were able to assist the client with two solutions.
Firstly, a £150,000 term loan over 2 years was obtained for the client to help with the
cash injection required to purchase the initial stock.
The repayments equated to around
the same as selling one car per month.
Secondly, the expert team at TML Finance also sourced a £2m credit-line for the client.
This facility was ideal to help with cashflow or for any additional funds required where
the client had immediate access to the funds.
Furthermore, the benefit of this facility is that no repayments are required if the client is
not using the facility.
