Key points
Planned business expenditure
Established asset with significant assessed value
Additional funding without an immediate sale
Background
Business Owner D required additional capital to support planned business expenditure. They owned a prestige vehicle with sufficient assessed value to be considered as security for the funding required.
Solution
Following valuation of the vehicle and completion of the required checks, a £25,000 Asset-Backed Business Finance facility was arranged against the eligible asset. The vehicle was securely held for the duration of the agreement.
Outcome
Business Owner D used the value of a prestige vehicle they already owned to access additional business funding, without needing to sell the asset.