Self-storage containers financed for a second site
The Challenge
A client wanted to open a second self-storage site through a newly formed business, replicating the successful model used at their existing site. However, as the new business had no trading history, they wanted to secure funding on competitive terms comparable with those achieved for their first site.
Our Solution
We reviewed the client's existing trading performance and the proposed expansion to demonstrate the strength of the underlying business model. Using our lender network, we identified a suitable asset finance solution for the newly formed business, providing £35,000 of funding over 60 months at an indicative 12.9% APR. The application was structured around the proven performance of the existing site and the client's plans for the new location.
The Outcome
The client secured £35,000 of asset finance to fund the self-storage containers for their second site, allowing them to replicate their established business model and continue their expansion. Funding was completed within 7 days, providing the client with the capital required to progress the new site without having to rely solely on their existing business's cash flow.
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