R. James & Sons Plant Hire Ltd is a family business operating out of Camborne in Cornwall since 2015, providing plant hire services and supplying aggregates for local building projects. Owner, Ian James, has accessed asset finance through Ignition over the years to help purchase essential equipment to successfully grow the business.
However, when the Covid 19 crisis hit earlier this year, like many others Ian became concerned about helping his business survive the lockdown, particularly with so much uncertainty around how long restrictions would last. He comments:
“It has been a very worrying time. At first, we weren’t sure whether business would dry up and were concerned that some of our customers may not be able to pay outstanding invoices.”
Ian contacted Ignition and was able to refinance a 14 tonne Doosan Excavator, releasing some funds to ease finances and help with cash-flow. It involved selling the excavator to Ignition for a lump sum and then making regular payments for hire and eventual re-ownership.
Ian continues: “Fortunately, we have been able to continue working on some demolition projects, where social distancing is possible. With just three of us working on the job with separate diggers and a crusher, and paperwork completed electronically, we have been able to safeguard our staff and customers.
“However, it has been very reassuring to have the back-up funds from the refinancing deal to keep us ticking over and to know that Ignition are there on the end of the phone to help further if things get tough. The team at Ignition are quick and efficient, and I trust them to give me a good solution for my business. I wouldn’t go anywhere else for help with finance.”