The case was introduced by Approved Business Finance to HTB because the client was enjoying a doubling of business volumes from pre-covid levels and was lookin to take advantage of some acquisition opportunities, requiring further liquidity.
HTB was able to support the container hire firm by refinancing some of its existing assets to release £2m, which could be used to buy further assets and have additional liquidity.
Hampshire Trust Bank head of sales, structured asset finance Robert Still said: “This facility highlights HTB’s ability to understand exactly what the business required and delivered a solution to meet all their needs. Furthermore, HTB were able to respond within tight timeframes delivering a service above and beyond the customers’ expectations. We are looking forward to working closely with them on further deals going forward.”
Approved Business Finance co-founder Rory Dunn added: “I have been involved in many cases over the years and this particular structured refinance transaction, which included non-traditional assets, was particularly complex.
“However, HTB’s ability to process multi-million-pound transactions with such efficiency and commerciality is very impressive and is the reason we love to work with Rob Still and his team.”
HTB is a specialist bank staffed by experts focused on providing asset finance, specialist mortgages and development finance solutions. The lender also offers savings accounts to individuals and businesses.