The clients: The broker, Kevin at Highland Credit Leasing Services, and North Fish Shetland - owner of property assets across the Shetland Isles.
Creating a monthly income by providing renewable energy to a leisure centre
North Fish Shetland’s interests are varied. They use one of the sites they own to produce wood chips for renewable energy boilers, for example. On top of producing wood chip, the company wanted to purchase a wood chip boiler to enable them to supply a holistic renewable energy service to a local leisure centre. While this would open up a monthly revenue source, it meant finding £110,000 first.
Where do you find a loan for an unusual asset in a location that many providers would refuse?
As the client had a £30,000 deposit, borrowing should have been relatively straightforward in theory. In practice, it was an unusual asset. Plus, the boiler was not being installed on the client’s own property, and the combination of these two things turned most lenders off. The broker used this as a chance to test out non-prime lending specialists Quantum, as one of the lender’s representatives had recently paid him a visit.
Funding a difficult case didn’t call for burdensome administration
The broker was impressed. Rather than throw up obstacles, Quantum were comfortable lending on such an asset. They had no objections with the location of the new boiler either. Quantum agreed to the loan and paid the funds quickly. And rather than insist on using the Quantum portal, the broker was allowed to provide their own manual proposal documents to submit the case. In short, the lender made it easy to do business.
Rather than put up obstacles, Quantum worked with us to find ways around some of the lending complications. They are easy to do business with and our client walked away happy.
Kevin Sweeney,
Highland Credit Leasing Services
