Refrigerated Van Finance for a Food Distribution Start-Up
£145,000 · 5 years · 7.40% fixed. A food entrepreneur was establishing a fresh food distribution business supplying restaurants and food service businesses.
The Client
Food entrepreneur
The Challenge
A food entrepreneur was establishing a fresh food distribution business supplying restaurants and food service businesses. The business required five refrigerated vans from launch. With no trading history, conventional van finance on standard business terms was declined. The entrepreneur had personal assets and a detailed business plan.
Our Solution
Doulton sourced a specialist asset finance lender for start-up commercial vehicle finance. The entrepreneur's personal net worth, the strength of the business plan, and confirmed supply agreements with three food producers were used as the lending basis. The refrigerated vans served as primary security.
The Outcome
Five refrigerated vans financed and operational from launch. Revenue in month six was ahead of the business plan. By year two the business had grown to eleven vans and returned to Doulton for the expansion fleet. Key highlights: Start-up commercial vehicle finance placed - no trading history; Supply agreements and business plan used as lending basis; Business grew to 11 vans in year 2 - returned to Doulton for.