ASC Success Story
The Wheels on the Bus
The Children and Families Community Association (CAFCA) provides support to families in Birmingham with a high standard of childcare including two nursery schools and a community play bus. An opportunity arose to provide 25 extra places for children by combining the two nurseries under one roof, but the banks were reluctant to assist due to the economic climate and minimal loan security. Their financial advisor, Dennis Anderson, suggested approaching ASC Finance for Business and their accountant agreed, having previously used ASC’s services.
Consequently, CAFCA met with John Taylor, ASC Regional Director in Birmingham, and he analysed the case. It became apparent that a loan was possible by using asset finance against the bus, and after only 10 days, John had secured adequate funding to allow CAFCA to proceed with their plans. A hiccup did occur, however, as the lender then wanted to charge VAT. This was a problem because CAFCA is a not-for-profit organisation and hence not VAT registered which meant they wouldn’t be able claim the hefty VAT back. John liaised with the bank and after careful management, the loan was approved without VAT being charged. Everyone was happy - the colourful play bus saved the day and the association could continue its fine work in the community. Joan Wilkes, CEO of CAFCA told John “we were beginning to think that we were going to have to curtail our development programme, but ASC’s help proved a real blessing”.
At ASC Finance for Business, we look at the whole deal, and can provide a very wide range of finances. Let us take the strain while you get on with developing your business.
We focus on arranging finance for your business...
so you can focus on running your business
We work in the way which works best for you