Case Study: Agricultural Industry
The client need
This deal was introduced to Davenham through one of our key regional brokers who had a customer wanting to purchase a 2018 New Holland Tractor and 3 Barford Dumper Trailers to be used on a large contract they had recently acquired.
The tractor cost £73,750 +VAT and the 3 trailers were £24,225 +VAT. The customer wished to finance the tractor and trailers on two separate lease agreements and they paid a 10% deposit upfront towards both required deals.
The Davenham solution
To solve the accountability and financial stability issues, we liaised closely with the broker, with whom we have been working for many years, and had confidence in all of the paperwork and information supplied.
As the assets were already being used by the customer, it was imperative we collected all conditions and paid the invoices as quickly as possible once we had signed all the necessary paperwork. Once signed, we processed and paid the dealers as swiftly as possible. We advanced a net total of £88,177.50 over 5 years for this customer on our minimum rate and maximum commission to the broker. The customer has many funding lines with some top funders so we were pleased to have our turn.
As a result both the supplier and customer were happy with our service and we have now just paid out our third deal with this customer and broker - truly showcasing how our partnership approach is implemented at the outset of any funding transaction. We received this repeat business due to our close relationship with the broker in addition to the competitive terms we can offer customers.
This deal was introduced to Davenham through one of our key regional brokers who had a customer wanting to purchase a 2018 New Holland Tractor and 3 Barford Dumper Trailers to be used on a large contract they had recently acquired.
The tractor cost £73,750 +VAT and the 3 trailers were £24,225 +VAT. The customer wished to finance the tractor and trailers on two separate lease agreements and they paid a 10% deposit upfront towards both required deals.
The Davenham solution
To solve the accountability and financial stability issues, we liaised closely with the broker, with whom we have been working for many years, and had confidence in all of the paperwork and information supplied.
As the assets were already being used by the customer, it was imperative we collected all conditions and paid the invoices as quickly as possible once we had signed all the necessary paperwork. Once signed, we processed and paid the dealers as swiftly as possible. We advanced a net total of £88,177.50 over 5 years for this customer on our minimum rate and maximum commission to the broker. The customer has many funding lines with some top funders so we were pleased to have our turn.
As a result both the supplier and customer were happy with our service and we have now just paid out our third deal with this customer and broker - truly showcasing how our partnership approach is implemented at the outset of any funding transaction. We received this repeat business due to our close relationship with the broker in addition to the competitive terms we can offer customers.