New start soft play centre needing to lease equipment
Term: 5 years
Feature: secured equipment leasing
Having worked for a number of years in a children's soft play centre, our customer's decided that they wanted to set up their own facility.
After putting their ideas together they settled on a plan, found a premises that could be rented on a 10 year lease situated in a convenient local business park, with no premium and now it was just a matter of how to afford the latest equipment, marketing material, property preparation etc.
Having talked through the business plans, anticipated cash-flow projections and shown their accountant the potential premises, his suggestion was that the £200,000 required could be leased on a fully amortising basis over a term of five years.
Clearly, this would be a challenge for any conventional lessor to lease such soft assets to a new enterprise. However, Accredo were happy to assist and the director's partner was happy for them to offer their residential property as additional security for the advance by putting a second charge in place.