£820k Deal to Support Provident Society Growth

The Opportunity

We were approached by broker partner Gareth Jones from Cyllid Cymru Finance Ltd, an appointed representative for AFS, to assist a successful cooperative with a funding solution to support their growth plans. The co-operative produces food which retails throughout the UK. 

They required funding for 9 new vehicles. Due to grant funding and capital allowances ‘super deduction’, this industrial and provident society had been advised to acquire new assets on a loan basis instead of opting for a Sale & HP back solution.  

The Solution

The Haydock team, including Broker Manager Alex Bennett and Senior Underwriter Jonathan Thompson, worked with Gareth to structure a loan and chattel facility over an extended term of 72 months to match the cash flow target of the cooperative. The asset inspection and valuation was completed by Wye Commercials and the funding for 9 new vehicles was approved totalling an advance of over £820,000. 

"I choose Haydock for this deal due to it being a complex request for a non standard entity. Having worked with Haydock in the past, I can always rely on them to provide positive and commercial outcomes for my clients."

Gareth Jones from Cyllid Cymru Finance Ltd