MacManus Engineer the perfect finance solution for MCT ReMan
MCT Reman Ltd are based in Weston Super Mare and provide re-manufacturing services to the automotive sector boasting an impressive client list including Ford (Europe), Jaguar Land Rover, Volvo and General Motors.
Director, James Stone, was in the process of purchasing a Durr EcoCore cleaning machine from a German based supplier, and was looking for a solution to release cash back into the business. MacManus Asset Finance discussed with James possible solutions with how we could assist him with this requirement.
Since the supplier was based overseas, we discussed the option of a Sale and Hire Purchase Back agreement. This works by the client purchasing the asset directly, then the funder will purchase that asset from the client, financing it back to them via a hire purchase agreement. James agreed that this would be the best solution for the business.
The team at MacManus Asset Finance approached our panel of 60 lenders, proposing a Sale and HP back, we worked quickly to obtain and achieve the acceptance required. At the time we received the acceptance, James then purchased the cleaning machine, receiving the initial funds paid for the machine in just 1 day.
This arrangement allowed MCT Reman Ltd to purchase the required Durr EcoCore cleaning machine, enabling them to provide the continuous level of service to their clients, while maintaining the working capital in the business.
James added “MacManus Asset Finance always provide a personal problem solving approach to providing the best solution to our requirements. We highly recommend their services to any potential customers.”