Business Expansion
Brocks Haulage Ltd
Scania Artic Tipping Trailers
Clear Business Finance helps Brocks Haulage to restore working capital through the refinance of existing assets.
The Challenge
Established in 1974, Brocks Haulage Ltd is a family run organisation that prides itself on a reputation built on honesty and trust.
With an extensive client base across the Southeast / Essex / Kent / East, North & South London and having fulfilled contracts further afield, the company undertakes large bulk excavations, working to environmental legislation, with a complete trail of analysis, acceptance and disposal.
Brocks had tendered and won a new contract but to meet the deadlines they urgently needed to acquire 4 additional Artic Tipping Trailers. However, their working capital had recently been utilised to purchase 4 Scania 8x4 tippers, this had restricted their short-term cash reserves.
Key Facts
Speed of approval
48 hours
Amount Financed
205K
Product
Equipment Finance, Refinance
Location
South East, Essex
Clear are price competitive & provide a fast, efficient & friendly service
The Results
Firstly, Clear Business Finance secured a credit acceptance for the refinance of the 4 recently purchased Scania 8x4 tippers. We then obtained an approval for the acquisition of the additional 4 artic tipping trailers. All 8 assets (new & existing) were combined onto one Hire Purchase agreement. Upon activation of the contract Brocks received payment from our lender for the refinance of the existing Scania 8x4 Tippers and the supplier of the new trailers was paid in full directly by the same lender.
Brocks had just doubled their fleet and at the same time had more money in the bank should another opportunity present itself. Clever finance indeed!
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