Key points
Multiple existing business borrowing commitments
Eligible borrowing brought together through one facility
High-value prestige vehicle used as security
Background
Business Owner E had several existing borrowing commitments and was looking to bring eligible obligations together. They owned a high-value prestige vehicle that could provide security for an asset-backed facility.
Solution
Following assessment of the vehicle and completion of the required checks, a £50,000 Asset-Backed Debt Consolidation facility was structured against the eligible asset. Where agreed, eligible existing debts were settled directly, with the remaining balance transferred to the client's nominated account.
Outcome
Business Owner E used the assessed value of an existing prestige vehicle to consolidate eligible borrowing into a single asset-backed facility.