Scottish Pacific Tradeline helps biomass business steam ahead with a £100k facility
This renewable business specialises in the design, supply, installation and servicing of speciality energy saving biomass boilers.
The client was introduced to Scottish Pacific via a Broker when they required urgent funding for payment of a boiler being imported from the US, a facility of £100k.
They had secured funding by means of an asset finance sale and leaseback contract when the order was originally placed some months earlier, however, the asset finance company would only release funds to pay for the goods once they arrived in the UK.
As the supplier’s deadline drew closer, the client remained unsuccessful in securing the funding required to enable the goods to be released.
Scottish Pacific Tradeline was able to liaise with the client, the asset finance company and the US supplier to offer assurance that payment would be made, which in turn allowed the goods to be shipped.
The client was close to losing the contract and our ability to provide an immediate solution within a tight timeframe resulted in a successful outcome.
Scottish Pacific Tradeline is a flexible and effective alternative to traditional trade finance and provides purchasing power for a wide range of businesses.