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February 9, 2021updated 17 Jun 2022 8:32am

Close Brothers Asset Finance funds haulage provider’s DAF trucks in £500k-plus CIBLS deal

By Alejandro Gonzalez

Close Brothers Asset Finance has funded the acquisition of six new DAF trucks for Frost Transport Solutions as the firm looks to continue to consolidate its position as a recognised haulier. 

The funding – over £500,000 – was secured through a Coronavirus Business Interruption Loan Scheme (CBILS) facility and took less than a week to agree and complete.  

Based in the Midlands, Frost Transport Solutions was founded in 2015 and provides nationwide haulage services. 

Close Brothers Asset Finance

Alan Cardy, dealer manager for Close Brothers Asset Finance’s transport division: “This is a really good news story for the haulage sector and a strong indicator of the resilience of firms and their ability to adapt to changing needs and requirements. 

“Using a CBILS loan helped not only with the purchase of the six new trucks but also enabled a restructure within Frost Transport Solution.” 

Chris Frost, managing director of Frost Transport Solutions, added: “I’m delighted Alan and Close Brothers Asset Finance could step up after we were let down by another finance company. We managed to get everything signed and agreed within a week, which was crucial for the development of our business.

“We are proud to be family-run and these additional trucks will continue to help us grow our business and workforce.”

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