FINANCE FOR COACH COMPANY

Working capital was needed when a South West Coach Building company won a contract to refurbish 200 vehicles.

With an initial run of 45 to complete, at a rate of one a week, the company desperately required capital to invest in new labour, materials and to ensure they could service the contract. Additionally, they wanted to consolidate two short-term, but expensive, credit agreements they were currently servicing.

Their accountant, having previously had a positive experience of working with PFC, contacted the company to see what could be achieved in helping the business source working capital for investment in new staff.

In less than 72 hours PFC had raised £110,000, repayable over 5 years, provided as a general business loan. Secured at a single digit rate, it enabled the company to clear the high rate credit agreements and ensure the business had sufficient capital deposited in the bank to invest in new workers and material. The financing helped facilitate the business growth and further maintained strong working relationships between client and their accountant.