This client was introduced to us by one of our commercial vehicle dealer partners after their proposals failed to secure funding support from Mercedes-Benz Finance and others.
We visited the client to fully understand the issues which were preventing ‘credit-score’ lenders from offering finance, at which time we identified 5 x CCJ’s in excess of £30,000 lodged in 2005/2006 coupled with an historic loss-making business performance.
While achieving financial support within this scenario is not common, we sought to understand the rationale and to mitigate the various issues.
Subsequently believing this business to be fundamentally sound with an improving performance we worked with our client and their accountants over a 6-month period to secure ‘satisfaction’ of all CCJ’s and to collate background and financial information in support of a viable credit proposal.
Our protracted efforts and open dialogue between client and prospective funders eventually secured the support of a single lender and the vehicle was ordered.
Our client was happy to pay the inevitable higher monthly premium as the value to his business in securing the much needed vehicle, and re-attaining a credit status was paramount.