Client approached us via a referral from one of our existing clients, looking to purchase a new coffee roaster from America to expand their business. The roaster purchased was the Loring S35, there are only 1 other of these in Scotland, the ‘Ferrari’ of coffee roasters. The asset is a much larger, faster, and cleaner machine in comparison to their previous machine, with the additional capacity and production of this machine they have been able to better service their current contracts and secure and expand on new contracts. Obadiah not only sells their coffee in the UK, but sells their product all over the world, including America, Amsterdam, and Australia.
Prior to our introduction to the client, they had been working with another broker. Unfortunately, due to the asset being sold in the US, the broker couldn’t secure funding for them and left the client in a difficult situation at the eleventh hour and needing to secure funding imminently.
Breadalbane worked fast to get in front of the client and understand their requirements and complexities around the machine coming from outside the UK. We got a business loan in place for the client, so that they could make the payments to get the roaster shipped from America to their office in Edinburgh. We simultaneously got the roaster approved on a refinance deal, so that as soon as the roaster was in situ with the client, we could release 90% of the equity back out of it.
This allowed the client to settle the loan off so they were only servicing the asset finance agreement which was more rate efficient and secured against the asset.
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Unit 2, Block B, Kittle Yards,
Causewayside,Edinburgh, EH9 1PJ
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