Renaissance Asset Finance (RAF), a subsidiary of Arbuthnot Latham, the private and commercial bank, recently supported a well-known broadcasting company with a £404,562.33 hire purchase facility.
The deal, working in tandem with Media Lease, a specialist media broker, was to finance the purchase of eight Sony HDC Camera systems on a hire purchase agreement over 24 months. These new cameras will boost the quality of studio recordings and live broadcasts by incorporating many new and improved features and capabilities.
Hire purchase is a straightforward method of financing the purchase of an asset without the need for a large capital outlay. RAF’s support has allowed the broadcasting firm to spread the cost over the agreed term, paid for through fixed monthly instalments that will not increase, even if bank interest rates change, enabling the broadcasting firm to budget with certainty.
RAF is known for its specialism in financing high-end cars and commercial vehicles. These hard assets hold a residual value making finance calculations easier – offering both the funder and client several exit routes from an agreement. In recent years, RAF has been diversifying its lending book. These cameras are deemed a soft asset; they hold strong residual value and have a long working lifespan, making them an attractive asset to finance.
Jamie Chaplin, Sales Director at Renaissance Asset Finance, said:
“It was a great experience working with the broker in completing this deal and supporting the client. The client is a dynamic business in a sector we are targeting. Arbuthnot Latham has a dedicated media client banking team, and we will work with them to highlight how we can boost their client services with our asset finance solutions.”
Renaissance Asset Finance, a subsidiary of Arbuthnot Latham, has considerable experience of funding a wide range of assets. If you would like more information on the bespoke solutions we can offer, please get in touch.
