With the support of Charles & Dean, MAB Flowers, was able to finance a new tractor to support the growth of the business.
MAB Flowers are growers and wholesalers of flowers and plants based in Spalding, distributing nationwide. Acquiring the much needed tractor was essential in order to improve income as it would result in saving time during the seeding process, being able to transport goods and with an adjustable front it would also be a hugely versatile asset for the business.
Deemed a very new business, at just two months old, the business fell outside the typical remit for asset finance, meaning funding could be problematic. That’s where Charles & Dean stepped in. We worked closely with the business director to build a projected business forecast that demonstrated the benefits of purchasing the asset.
We worked hard to find the right lender and helped them understand the business, the nature of the asset and the industry it would be operating in, as well as evidencing there would be a significant improvement in the company’s financials from the purchase of the machine.
The lender viewed the tractor as a favourable purchase with a high residual value that was below market value. Payment was arranged to suit the client’s delivery needs, leaving the directors impressed with the efficient and bespoke service provided.
We are excited to see MAB Flowers thrive as a result of the new asset, watch this space!