Terranova Cranes are a family run, hire company based in Surrey. Typically, the business operates smoothly but, like most businesses, will encounter an unplanned event such as a crane part malfunctioning. Depending on the time of year, the costs relating to a non-working crane can have a direct effect on cash flow and, in this case, left Terranova with a temporary shortfall to pay the quarterly VAT bill that was now due.
Terranova worked with specialist business finance advisors, Number Eight Business Finance, to source the £65,000.00 needed to pay HMRC. Unfortunately, at 10am on the day payment was due to be made, funding from another lender fell through, leaving Terranova and Number Eight in a difficult situation. Fortunately, Nucleus Commercial Finance were contacted to help solve the urgent problem facing both parties. Within five hours, the team at Nucleus had transferred the funds that were required.
Nucleus and Number Eight have worked together on several successful cases and have been able to offer both secured and unsecured products to a wide range of business that have needed quick access to finance.
Terranova Client Story from Nucleus on Vimeo.
The speed and commitment of the Nucleus team was crucial and it enabled us to resolve a short-term financial issue for our customer, without delay.