One + Point Survey Ltd are survey and safety equipment experts, based in Verwood in Dorset and Exeter in Devon.  They handle the sale, hire, calibration and repair of survey equipment for the construction industry, and the business was hit hard by the pandemic during the spring of 2020 with some of the staff being put on furlough. However, with the help of the Coronavirus Business Interruption Loan Scheme (CBILS), the company managed to continue trading throughout the tough period and since June, when construction industry activity increased, business for One + Point picked up and the company had a busy second half of the year. 

The CBILS scheme provides 80% Government guaranteed loans up to £500,000, and asset backed loans to £750,000 with 12 months interest free. These commercial loans and some asset finance packages also benefit from a 12 month payment holiday, helping to ease business cash flow.

In an unpredictable and erratic year, One + Point’s business has been helped hugely by using CBILS to ease cash flow and finance the growth of its hire fleet. To date, One + Point has secured a total of £226,000 for its business and is currently very busy with all sectors of its business hire, sales and calibration. 

Managing Director, Darren Lawrence, comments:

“Ignition has been a great help in securing CBILS financial support. The team at Ignition know our business and are easy to work with; they understand the complexities of the various Government schemes and know what is best for our business. All it took was one phone call and they sorted everything for us.”

Plymouth businessman, Roderick Blacker, recently contacted Ignition to help with the purchase of a stunning classic car with Royal connections.

Mr Blacker had been looking out for an Aston Martin Vanquish supercar and was immediately taken with the pristine grey car with only 18,000 miles on the clock.  He was even more intrigued when he discovered it had been in service to the Royal Family for 13 years. 

First registered as new to the Royal Privy Purse of Windsor Road in Ascot, Berkshire, in 2003, the car remained in the Royal household until 2016 when it was sold at auction to a private enthusiast.  It is one of the last Aston Martins to be fully hand-built in Newport Pagnell.

Mr Blacker, who has used Ignition to help purchase assets and equipment for his self-storage and shipping container company over the last 20 years, knew that Ignition would be swift and efficient in organising finance for the Aston Martin.  Within a week of spotting the advertisement, the sale was completed, and he was in the driving seat.

Roderick Blacker comments:

“When I spotted the advert, I couldn’t pass up the opportunity to own such a special car! I have no way of knowing which member of the Royal Family might have driven in it, but apparently Prince Charles is very fond of Aston Martins and of course the Queen regularly visits Ascot for the horse racing.”

“A car with this kind of history is not only a great investment, but also a joy to drive, and is certainly one of the best-looking cars ever made.”

Eleanor Smith, Business Development Manager at Ignition, comments:

“When arranging finance, we know that providing a quick and efficient service is paramount and can make all the difference to our customers. We were delighted to help Mr Blacker secure this beautiful car.”

EG Fencing Solutions Ltd, based near Liskeard in Cornwall, was formed in 2007 by friends Lewis Elliot and Dan Goodman. It supplies and installs fencing and gate entry systems across the country. Recent projects include fencing for Stanstead and Gatwick airports, Hinkley Point power station, and a number of major roads and motorways across the UK.

Building on its success, the company recently purchased two new trucks worth £50,000 with help from Ignition via a Hire Purchase asset finance package, expanding its growing fleet to six.

The company has also taken the opportunity to secure a CBILS loan (Coronavirus Business Interruption Loan Scheme) worth over £200,000, making the most of the chance to obtain funds interest free for the first 12 months.

Lewis Elliot comments: “Lockdown was concerning at first, and we did furlough some of our workers for a couple of weeks, but we were soon as busy as ever.  Most of our contracts are for key industries such as the road network and National Grid, so this work was essential and had to continue.  However, we’re well aware that these are challenging and uncertain times, so felt it would be sensible to obtain a loan to provide us with greater financial security in the coming months.

“We’re also keen to continue expanding and strengthening the business and are actively recruiting more workers to help us fulfil new contracts, so the loan will help us to achieve this.”

Over the years, EG Fencing has worked with Ignition a number of times to finance vehicles for the business.  Lewis Elliot continues:

“We have always found working with Ignition is painless, straightforward and hassle-free.  They offer us competitive deals and can arrange finance quickly.”

Paul Caunter, Managing Director of Ignition, comments: “Lewis and his team at EG Fencing Solutions have been clients for many years, and it’s great to see the business continuing to grow and thrive. We’ll continue to do all we can to support them.”

Plymouth based Groundworks and Civil Engineering company, XCAV8 (SW) Limited, has recently strengthened its business with the purchase of three new Doosan excavators worth over £200,000, financed through Ignition. 

Established over 10 years ago, the company is contracted for the groundworks / civil engineering aspects of building projects and developments across the South West working with various companies.  

XCAV8 has worked with Ignition frequently over the years, purchasing vans and various machinery.  According to Director, Matt Halligan, the company soon realised that it is much more cost-effective to purchase equipment on a finance package rather than hire in.  He comments: 

“For the last six years we have taken the view that if we ever need hire equipment for more than three months, we look to purchase instead.  The repayments are always cheaper than the hire cost, and then we own the equipment outright.” 

“The process is always very quick and easy with Ignition, particularly since they have our information to hand and know our business well.” 

Two of the three Doosan excavators were purchased using CBILS (Coronavirus Business Interruption Loan Scheme), which provides loans interest free for the first 12 months. 

Matt Halligan continues: 

“Like most businesses, we were adversely affected by the coronavirus lockdown at first.  We stopped operating for a short time and furloughed our workers. But fortunately, we were soon approached to undertake work for hospitals and other essential projects and have been busy ever since.  All of our staff are back from furlough now and we are continuing to go from strength to strength.”