Case Study: £150,000 Asset Refinance for a Moray Manufacturing Business

Specific company name and asset descriptions are not disclosed in order to protect client confidentiality.

Background

Our first full month in business has been a busy one. August 2026 has seen Martin Mackenzie speaking with both new contacts and clients he has worked with over 20 years in the commercial finance industry. One of those conversations led to a result we are particularly proud of, and one that demonstrates exactly what Mackenzie Commercial Finance was set up to do.

A manufacturing business based in Moray came to us after Martin Mackenzie made contact to introduce the services of Mackenzie Commercial Finance. What followed was a thorough conversation about the business, its current financial position, and its plans for the future. That conversation uncovered a genuine opportunity to make a meaningful improvement to the business finances.

The Situation

The business had accumulated multiple short-term lending facilities, each carrying substantial interest rates. These facilities had been designed for short-term borrowing and had never been intended to carry a long-term balance, yet that is exactly the position the business found itself in. The combined monthly interest charge was significant, and the facilities were tying up credit lines that the business needed as working capital.

Earlier in the year, the business had approached its bank for an overdraft to address a cashflow requirement. The bank took a negative view based on a balance sheet analysis, without taking the time to understand the story behind the numbers. The business was investing in machinery for the future and working towards a planned transfer of ownership to the next generation. Neither factor was considered. The overdraft was declined.

In place of the overdraft, the business resolved its immediate cashflow need through a combination of a business credit card and short-term VAT loans. Both had worked in the short term, but the interest charges were now considerable every month, and the credit card facility that the business relied on for large stock purchases was no longer available as a working capital buffer.

The Approach

Martin Mackenzie met with the business in person. Rather than looking at the balance sheet in isolation, Martin took the time to understand what the business does, the story behind the numbers, and what the future plans are. That is the approach Mackenzie Commercial Finance takes on every case, and it is the approach that opened up a solution the bank had been unwilling to find.

The business owned assets. Those assets had value. Martin Mackenzie carried out an on-site inspection to assess that value properly. Many of the assets were in the 25-year-plus age bracket, which requires both a thorough understanding of the equipment and an experienced knowledge of lender credit policy. Bespoke equipment of that age is not something every lender will consider. It requires a lender willing to take a position based on the business story, the future plans, and the quality of the proposal put forward by the broker.

The Solution

The finance was placed with Haydock Finance, a specialist lender that operates exclusively through the broker market and is not directly accessible to businesses on the high street. This is an important point: Haydock Finance is one of a number of lenders on our panel whose products are simply not available to a business approaching them directly. Haydock took a very positive approach to the whole proposal and worked closely with both Mackenzie Commercial Finance and the client throughout the process. Martin Mackenzie ensured that all credit requirements were handled as efficiently and as simply as possible from the perspective of the client. Once the asset inspection requirements were satisfied, Martin met with the client again in person to complete the finance paperwork, taking the time to explain exactly how everything worked before signing.

The result was £150,000 raised through asset refinance, structured on a 36-month hire purchase agreement. The funds were in the account within days of completion.

The Outcome

The £150,000 injection allowed the business to repay all of the short-term borrowing in full. In doing so, it released those facilities back to their intended purpose as short-term cashflow tools, available again when genuinely needed. The business also received a meaningful boost to its bank account heading into the latter part of the year.

With the borrowing now structured on a single 36-month agreement, the monthly interest charge has been considerably reduced. Crucially, the total monthly outgoing has not increased. In 36 months the balance will be cleared in full.

The client is delighted with the outcome.

What This Case Demonstrates

This case is a good example of what asset refinance can achieve, and of why the approach taken by Mackenzie Commercial Finance produces results that a bank or a generalist broker may not. Asset finance is not only about financing new vehicles. As refinance specialists, Mackenzie Commercial Finance works closely with lenders to build proposals based on the real value an asset holds, the real story a business has, and a genuine understanding of what that business needs to achieve. A balance sheet and a serial plate are not the full picture. In our experience, they rarely are.

This case also illustrates why access to a broad lender panel matters. Haydock Finance operates a broker-only model, meaning their products are available exclusively through regulated brokers such as Mackenzie Commercial Finance. A business approaching the high street directly would never have encountered this solution. Our panel of over 120 lenders includes a significant number of specialist and broker-only funders whose credit appetite, criteria and flexibility are simply not available elsewhere.

Martin Mackenzie has 20 years of experience in commercial finance, including over a decade specialising in asset refinance. That experience informed every stage of this case, from the initial conversation through to the on-site inspection, the lender selection, the proposal, and the completion. It is what Mackenzie Commercial Finance is here to provide.

Read more about Asset Refinance and how it can work for your business, or explore our Refinance and Equity Release service.

If you would like to discuss whether asset refinance could work for your business, Martin Mackenzie would be happy to have an initial conversation at no cost and no obligation. Contact us at directors@mackenziecf.co.uk or call 01463 652653.

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