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• 24 Feb

  Funding Invoices For Car Repairs To Alloy Wheels

  

  Refurbishment and repair of alloy wheels is another aspect of car crash repairs that we are able to arrange to be funded. This was a recent case where we could assist a client with a pre-existing county court judgement that could be an issue for some funders.

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  Funding Invoices For Alloy Wheel Repairs And Refurbishment

  In this particular case, we were approached by a car crash repairer specialising in repairing and refurbishing alloy wheels. They were invoicing insurance companies so their sales invoices were eligible for funding by some of the invoice finance companies that operate within the UK.

  Typically, with insurance company repairs that work is ordered and agreed upon upfront with the insurer. The customer then signs of completion leaving an audit trail that makes the invoices for repairs good collateral for business finance. This tends to be quite a specialist niche within the finance sector.

  Funding For Alloy Wheel Repairs

  Alloy wheel repairs are able to be financed as are other aspects of car repairs that are paid for by insurers. There are even specialist lenders that deal with this type of facility. In this case, we were able to make an introduction to a specialist funder.

  Finance Despite A County Court Judgement

  An added complexity of this deal was that the company had a prior county court judgement. This is not uncommon in business but it can be an issue when you are seeking business finance. Many finance companies will not deal with companies that have any prior CCJs. However, not all finance companies are averse to assisting companies with prior CCJs so we were able to introduce a sympathetic funder.

  In this case, the finance house we introduced was happy to proceed on the basis that the CCJ had been paid off. This is another example of how were able often able to help companies that could find it difficult to access the funding they need on their own. If you have a similar need please call us on 03330 113622 to discuss your situation and financing requirements.

  By Glenn Blackman