Key Finance funds £1.5m LED lighting project for national retail chain
Key Finance has financed the £2.5 million resupply and installation of energy efficient LED lighting for SPAR stores.
Uniquely, the financing includes both the hard and soft costs associated with the project, which started in late-2016 and encompasses select SPAR retail outlets, warehouses and offices nationwide.
The latest phase includes the £170,000 supply and installation of LED lighting in cash & carry outlets.
Energy management is a major issue for retail in 2017 and one that comes with significant cost implications as businesses look to keep up with the latest technology and regulations.
As such – and following the success of its latest project – Key Finance is offering funding for energy efficient LED lighting installation to the wider retail community with immediate effect.
It’s Project-Based Lending (PBL) tool means Key Finance can provide complete funding for core and associated project costs at hugely competitive rates.
This is because PBL eschews the traditional restrictions of asset-based lending – instead recognising a client’s ability to pay, not the value of its assets and equipment.
Key Finance has been providing leasing services to the High Street retail ecosystem for 25 years, working closely with sole traders, leading multi-national chains, franchises, franchisees and distributors.
“Retailers are facing numerous challenges in today’s current climate, but the roll-out of our PBL tool means that their ability to fund expansions and improvements should not be one of them,” said Key Finance managing director Henry Mounsey. “Our long experience with some of the biggest names on the UK High Street ensures that we have an unrivalled understanding of the sector. We know that reinvesting in stock or new products and services can bring about a 10 per cent return on investment for retailers. Our lending options allow them to do just that – whilst we fund their expansions and refurbishments.”