An established broker, well known to UTB, contacted us with a potential transaction for a company purchasing a new, specialised stainless steel vacuum tanker. A quick decision was imperative as the broker faced competition from at least two other sources. The company had been through a tough trading period in recent years but the financials showed signs of recovery and an understanding of these particular circumstances and the industry sector was important to fully appreciating the risk profile of the transaction.
We underwrote the business within a very short timeframe, having had the benefit of a specialist valuer at our disposal with a detailed knowledge of the asset and its depreciation profile, which enabled us to structure the deal in conjunction with valuable input from our broker, and carry out a swift asset inspection to confirm the full specification of the unit.
Original documentation was then sent to us and a CHAPS payment made to the supplier. UTB pay all of their supplying dealers by same day payment. This ensures that transactions can be processed quickly and efficiently and that our broker partners can offer the very best service to their customers.
Loan : £120,000