Lighting engineering equipment finance

Background

Client: Rowan, a lighting engineer and owner of a lighting design company.

Objective: Secure finance to purchase a high-end lighting console to support high-profile tours and grow the business.

Challenges

1. New Business: As a new company, Rowan faced difficulties obtaining finance due to limited credit history and lack of collateral.
2. High-Cost Equipment: The required equipment, a GrandMA3 lighting console, represents a significant investment crucial for supporting large-scale events.
3. Time Sensitivity: Rowan needed the finance quickly to utilise the equipment for The Eagles' final EU tour, ensuring he could meet the tour's high standards and maintain his reputation in the industry.

Solution

Mulberry Asset Finance stepped in to provide a tailored financing solution through Hire Purchase. We worked closely with Quantum Funding to structure a suitable package.

1. Personalised Service: Mike from Mulberry Asset Finance took a personalised approach to understand Rowan’s business needs and challenges.
2. Efficient Process: Despite the newness of Rowan’s company, Mike worked diligently to secure the Hire Purchase deal swiftly, providing regular updates and reducing the stress associated with financing.
3. Quick Clearance: Finance cleared quickly, enabling Rowan to purchase the GrandMA3 lighting console in time for The Eagles' tour.

Outcome

With the new lighting console, Rowan was able to:

1. Support High-Profile Tours: Successfully support The Eagles on their final EU tour, showcasing his capability to handle large-scale, high-profile events.
2. Grow Reputation: Enhance his reputation by adding The Eagles to his impressive portfolio, which already included Depeche Mode, Sam Fender, and Christina Aguilera.
3. Expand Business: Position his company for future growth by leveraging the high-quality equipment to secure more prominent gigs.

Reflection

Mike from Mulberry Asset Finance reflects on the partnership: "It was a real pleasure to help Rowan, who is a highly impressive young man in the early stages of his business. As a lighting engineer, he has already worked with such bands as Depeche Mode, Sam Fender, and Christina Aguilera! He's now supporting The Eagles on their farewell tour – he’s only 26! We worked closely with Quantum Funding, who provided an excellent funding package for Rowan to acquire this new lighting console."

Conclusion

This case study exemplifies how Mulberry Asset Finance’s tailored, client-focused approach, can help new businesses overcome financial barriers and achieve growth. By understanding the unique challenges faced by Rowan’s lighting design company, Mulberry provided not just finance, but also peace of mind and a platform for future success.