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A farming partnership, facing a financial obstacle, was referred to Spark through Spark Connect by a wholesale partner. The farm had a niche requirement: they needed to purchase 940 fresh produce boxes for transporting goods to sites. Due to the specific nature of the requirement and the niche aspects of the deal, a tailored solution was necessary.
The company:
The objective was to identify a solution that would enable them to acquire the necessary equipment, maintain their current relationships and procedures, and ensure the business remained liquid and capable of fulfilling large orders both now and in the future.
Spark developed a Hire Purchase solution specifically tailored to accommodate the company's unique requirements. Acting as an intermediary between the company and potential lenders, Spark Finance negotiated favourable terms and facilitated the loan application process on behalf of the client.
Once agreed, a facility of £84,940 was implemented in the form of a Hire Purchase agreement. This type of finance provided the customer with the necessary working capital to acquire the wooden boxes and fulfil the shipment of their produce, while maintaining a financially stable position.
The wholesale referrer collaborated with the Spark team through Spark Connect to manage the referral and maintain the relationship with the customer. They built upon the existing relationship and earned commission on the deal when the finance was secured.
A specific problem:
The business's specific problem and the niche purchase had to be taken into consideration when identifying the appropriate finance option.
Lack of liquidity:
The large lump sum cost of the required equipment could cause liquidity issues for the business.
Business critical:
Finding a solution was business critical as the equipment would facilitate the sale of produce to leading purchasers and contributed to a large portion of forecast revenue.
Business assessment:
Detailed assessments of the businesses current financial situation and requirements are completed.
Customised solution:
Our finance expertise allow the proposal of custom solutions aligned with the client's needs and goals.
Implementation and support:
After approving the trade finance facility, ongoing support is offered to the client throughout the implementation process.
As a founder of multiple businesses, Jamie believes that mindset, discipline and ambition are key drivers for success, both for his businesses and for his clients.
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