Jerroms Mortgage & Finance successfully assisted Railway Support Services Ltd with securing a £100K loan for the purchase and refurbishment of two 08 Shunters, known as “Gronks”.

Obtaining funding for a project of this nature can pose challenges due to the fact the equipment is very specialised, dates back to the late 1950s, and is hired out to rail operators on long-term contracts which complicates the process of repossession and potential resale if necessary.

Jerroms Mortgage and Finance collaborated closely with Asset Advantage Ltd, one of its panel Lenders and patrons of the NACFB. 

Richard Rigg, Jerroms Mortgage & Finance said: "By clearly understanding the essence of the asset and its significance for the end user and the broader rail network, Asset Advantage successfully tailored the ideal deal for the customer. This deal is the most recent in a series completed with Asset Advantage for this customer. The personalised underwriting approach provided by Asset Advantage is indispensable for us."