“I have always enjoyed working with ART. They are able to give you a quicker response than the banks. The staff are knowledgeable and commercially focused rather than lending focused. Graham came out to visit, understood our needs, and supported our application.”
The business
The opportunity to combine his business and finance expertise with his love of beautiful cars prompted accountant Paul Moore to step in and buy out a paint refinishing business that was going into administration. “The previous owner has over 25 years’ experience of caring for race, classic, supercar, concept and luxury vehicles,” says Paul. “He is an expert in restorations, detailing and paintwork and will be able to focus on that aspect of the business, whilst I concentrate on the financial and administrative aspects.”
The buy-out has preserved seven jobs and allowed Concept Restorations to maintain the workload and build on the previous company’s reputation for specialising in detailing and paintwork for some of the world’s most valuable and rarest vehicles. Clients include a famous supercar dealer, multi-supercar franchises, a famous 4×4 manufacturer, numerous concept companies, Lamborghini Super Trofeo Series as well as a number of professional sports people. “We always liaise with customers regarding the best options for their particular vehicle,” says Paul.
The loan
Looking for funding to help re-stock and provide working capital, Paul turned to ART Business Loans. In his work as an accountant, he was aware of ART and had introduced clients to them. “I have always enjoyed working with ART,” he says. “They are able to give you a quicker response than the banks. The staff are knowledgeable and commercially focused rather than lending focused – they are genuinely interested in the circumstances and aspirations of the businesses they support. Graham came out to visit, understood our needs, and supported our application.”
The outcome
The ART loan, alongside the introduction of new processes and financial measures, has put Concept Restorations on a sound footing and the year ahead is looking good, with plans in place to attack new markets.