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Bespoke Facilitates Groundbreaking Project for Skelton Limited

bespoke - May 2, 2024

Revolutionising Waste Management Through Innovative Financing

Bespoke Commercial Finance recently orchestrated a significant deal with Skelton Limited, a leading waste management company based in Leeds. This collaboration has paved the way for the construction of a revolutionary waste management machine, the first of its kind in the UK, showcasing a stellar example of how a flexible financing solution through a commercial finance broker can drive technological advancement and sustainability in industry.

The Challenge: Funding Innovation

Skelton Limited approached Bespoke with an initial request for a substantial asset finance facility to support the building of an innovative waste management machine. This project was not just another business expansion but a stride towards pioneering a sustainable future. The machine promised to bring new efficiencies and capabilities to the waste management industry, setting a precedent in the UK.

However, the traditional financing route posed significant challenges. Skelton Limited had previously arranged a favourable payment plan with their supplier, agreeing to disburse a portion of the total funds required quarterly. This payment structure meant that Skelton would not need the entire capital upfront, rendering a conventional loan inefficient and costly.

Bespoke’s Innovative Solution

Understanding the unique needs of Skelton Limited, Bespoke demonstrated exceptional adaptability and customer-centric thinking. We proposed a tailored solution—a revolving secured credit facility. This facility not only aligned with the client’s financial flow but also leveraged the business’s commercial assets and property to secure the necessary £2.5 million to complete the project.

The brilliance of this financing solution lies in its flexibility. The “pay on what is drawn” feature of the revolving credit facility allowed Skelton Limited to draw down funds as required to meet each quarterly payment to their supplier, thus avoiding the financial burden of interest payments on unused capital. This strategic financial structuring is particularly advantageous for projects where capital needs are staggered over time, as it ensures that financing costs are directly tied to cash flow needs.

The Outcome: A Champion Deal

The deal between Bespoke and Skelton Limited is not merely a financial transaction but a partnership that reflects a deep understanding of the business’s operational needs and growth aspirations. By providing a custom financial solution, Bespoke has enabled Skelton Limited to focus on what they do best—innovating in waste management—without the added strain of inefficient capital use.

This arrangement highlights how Bespoke Commercial Finance goes beyond traditional lending to facilitate its clients’ success. The revolving secured credit facility is a testament to Bespoke’s commitment to providing flexible, client-focused solutions that accommodate the unique challenges and opportunities businesses face today.

Why This Matters

The success of this deal with Skelton Limited illustrates several critical points in the world of business finance:

  • Customisation in Financing: Each business has unique needs and challenges, requiring bespoke solutions that conventional products may not address.
  • Supporting Sustainability: By enabling the development of a revolutionary waste management machine, Bespoke contributes to environmental sustainability, an imperative in today’s business landscape.
  • Strategic Financial Planning: The ability to align financing with business and cash flow cycles can significantly reduce the cost and increase the efficiency of capital.

Looking Forward

Bespoke Commercial Finance remains at the forefront of creating such transformative opportunities, proving that with the right financial partner, businesses can achieve remarkable things. This deal is a clear indication that Bespoke is not just a financier but a pivotal partner in the progress and success of innovative industrial advancements.

Perhaps you require expert help and advice to get your project over the line – just like Skelton Limited did? Well, look no further than Bespoke.

Get in touch with us today – we’d be delighted to help.

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