Hire Purchase Asset Finance

4 December 2019

We helped customers Fastlathe Ltd, a Langley Mill and Ilkeston-based engineering firm, acquire two-tech turning centres with a £200,000 credit line.

  • The customer supplies precision engineering to a number of industries
  • Assets included two new Mazak turning centres
  • The customer was introduced to the Bank by Ben Lavin of Empire Corporate Finance

Fastlathe Ltd acquired the assets in order to fulfil record demand from their clients. The family business was founded in 1978 and is now run by Paul Horspool. Since then, they’ve been supplying industries including the agriculture, automotive, rail, grass cutting machinery and shop fitting sectors. The company also offers bespoke machining and one-off prototypes for their clients. With their purchases, Fastlathe Ltd will be able to increase output, improve efficiency and eliminate the need for subcontracting any work.

To find out more about our Asset Finance, please contact our Business Development team.