Royal Cars wanted to put 12 more taxis on the road. But for small independent firms, using traditional lenders (such as banks) is often out of the question.
James Maskell was tasked with finding alternative funding for Royal Cars. He turned to small and medium sized business lending specialists, Quantum Funding. Quantum’s knowledge and flexibility helped Royal Cars get quick and cost-effective finance for 4 Toyota hybrids, costing around £17,500 each. The deal enabled the firm to grow, employing another 10 drivers and 4 office staff.
The finance was arranged swiftly. Within half an hour of the broker’s submission to Quantum’s unique broker portal (QuantumBrokerlink) the proposal was accepted. The money was paid out within just 3.5 hours after receiving the paperwork. A service brokers, their suppliers and clients can rely on.
Local council regulations stipulate that a licensed taxi cannot be more than 5 years old. The finance Quantum provided enabled Royal Cars to uphold their obligations while managing their cash flow more effectively, as they didn’t need to find the money upfront, or use an overdraft facility.
The low speed limits in Oxford’s city centre mean these new hybrid vehicles run at almost zero emissions, and are far more economical as they reduce fuel consumption (particularly in congested, stop-start traffic). Quantum’s funding helped to decrease Royal Car’s operational costs.
We help many small and mid-sized companies find alternative forms of borrowing. As such, we deal with numerous funders from across the market.
We have welcomed Quantum onto our panel of lenders as they provide a flexible and fast service. They are very competitive for our clients.
UK Asset Solutions