Case Study: Canal Boat Rental Company
The client need
When looking to purchase a new vessel and give their office location a bit of a makeover, a canal boat rental company turned to Davenham for help in locating finances through their existing assets to fund their new ventures and keep their head above water.
With access to a fleet of unencumbered boats, the company aimed to achieve finance in the region of £100,000 against these assets to buy a brand new canal boat suitable for recreational hire over weekly and monthly periods, and then carry out refurbishment of their offices and reception area.
The Davenham solution
The deal looked challenging initially due to a complicated financial background and the complex legislation surrounding boat finance. However, thanks to the hard-working efforts of the entire Davenham team, and broker liaison by our Business Development Manager, Oliver Cole, the deal resulted in a simple and straightforward refinancing process.
At Davenham Asset Finance, we have built a reputation of commitment and trust for our brokers. For each of our finance deals we provide a bespoke service, and for this Deal of the Month, our team undertook specialist research enlisting the help of the Canal & River Trust and the British Marine Federation, in order to consider value of the client's asset and to assess overall risk.
It was full steam ahead, and from receiving the documentation to providing the payout Davenham navigated the legalities to complete the deal quickly for the client.
When looking to purchase a new vessel and give their office location a bit of a makeover, a canal boat rental company turned to Davenham for help in locating finances through their existing assets to fund their new ventures and keep their head above water.
With access to a fleet of unencumbered boats, the company aimed to achieve finance in the region of £100,000 against these assets to buy a brand new canal boat suitable for recreational hire over weekly and monthly periods, and then carry out refurbishment of their offices and reception area.
The Davenham solution
The deal looked challenging initially due to a complicated financial background and the complex legislation surrounding boat finance. However, thanks to the hard-working efforts of the entire Davenham team, and broker liaison by our Business Development Manager, Oliver Cole, the deal resulted in a simple and straightforward refinancing process.
At Davenham Asset Finance, we have built a reputation of commitment and trust for our brokers. For each of our finance deals we provide a bespoke service, and for this Deal of the Month, our team undertook specialist research enlisting the help of the Canal & River Trust and the British Marine Federation, in order to consider value of the client's asset and to assess overall risk.
It was full steam ahead, and from receiving the documentation to providing the payout Davenham navigated the legalities to complete the deal quickly for the client.