Ignition Credit

Business & Personal Asset Finance in Cornwall

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New Excavators give Business a Boost

11th September 2020 By Katy Baker

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.” 

XCAV8’s new Doosan excavators

Filed Under: Case Studies

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About Ignition Credit

Registered Office
Sterling House,
Green Court,
Truro Business Park,
Threemilestone,
Cornwall,
TR4 9LF

Phone
01872 272900

Office Hours
Monday—Friday: 9:00AM–5:15PM

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Copyright © 2021 Ignition Credit. All Rights Reserved
E&OE Company Registration Number: 4315993 | VAT Registration Number: 864 5933 85 | Authorised and regulated by the Financial Conduct Authority FRN 679018 Registered Office:- Sterling House, Green Court, Truro Business Park, Threemilestone, Truro, Cornwall, TR4 9LF

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