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Case Studies, Growth Funding

£2m Debt Facility Raised for Vehicle Logbook Loans

Founded in 2011 by a highly experienced vehicle recovery team, our client has developed an online CRM platform offering logbook loans to creditworthy non-prime customers who do not fit standard credit scoring underwriting models.

Their system provides fair and ethical lender services by using the security of the vehicle and bespoke IT to maintain acceptable credit quality, offer competitive rates and a high quality service to customers.

Having been granted full permission by the Financial Conduct Authority (FCA) in 2016 and proven their online platform, our client approached us with the aim to maintain the momentum of the business and acquire loan funding of +£1million to lend to their customer base.

We approached our investor network seeking a new investor who would lend into and through the existing investor – a small consortium that had provided £4.9million in working capital.  We presented a number of serious investors to our client, two of whom proceeded to fund the company variously (lending £500,000 and £1million) and with indications to increase these numbers in the medium term. 

Throughout the process of their investigations we monitored the due diligence procedures, working actively with the client and investor to maintain momentum and to ensure the eventual execution of these significant transactions. The project completed with yields of 12% on capital and secured in tandem with the other lenders to the business, against the multiply-covered logbook portfolio.

a note from the client…

Having just completed a substantial fundraising exercise, we are delighted with the speed and efficiency of the team at Beer & Young. Having quickly understood our brief they immediately set about introducing us to their extensive list of contacts who had been well informed and were in a position to make a quick decision on funding. The whole process proved to be professional, quick and appropriate to our needs. On this basis we have every confidence in recommending Beer & Young.

Managing Director
Vehicle Logbook Loans

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