Asset Finance for a Start-up Optician
We were introduced by a consultant who had failed to secure funding via the Start Up Loan Scheme to finance specialist optical equipment.
The key challenge was that the customer – a sole trader – was a UK citizen, he had spent considerable time in Australia and had been slightly remiss on UK financial affairs.
He also wasn’t a home-owner, which puts off many lenders.
On the plus side, he was a highly experienced dispensing optician and was borrowing a relatively small portion of the overall set-up cost, the remainder coming from personal funds.
To further complicate matters, the specialist equipment was coming directly from Lithuania.
Not only did we fund the equipment cost of £31,000 but we liaised with the Lithuanian supplier to ensure a satisfactory outcome for all parties