United Trust Bank (UTB) has provided £252,000 in asset finance to enable a geospatial mapping company to acquire a specialist Trimble MX60 Pro mobile mapping system.

The package, arranged through broker GSM Finance, covered dual spherical and pavement cameras, a high-speed scanner, software licences and training. The transaction required specialist valuations, which identified a collateral gap, but the lender agreed to proceed on the strength of the overall credit covenant and the long relationship between GSM and UTB.

Roger Wood, business development director at GSM Finance, said: “This wasn’t a typical asset but once UTB had agreed to consider the proposal it was a pleasure to work with Thomas and Oliver in getting the deal through.

“The finance was all set up and ready to go when my client wanted to finalise their purchase and this investment enables them to continue their growth plans.”

The deal was led at UTB by Thomas Edwards of the asset finance internal sales team and senior underwriter Oliver Hobday. Edwards described the camera system as “one of the more unusual assets we have funded since expanding our credit appetite to include a much wider range of equipment, media technology and machinery.”

He added: “Oliver and Roger’s longstanding and trusted relationship was a big factor in UTB funding a very niche camera, scanner and software package with a £252,000 facility.

“And once we were comfortable, we also agreed in principle to support the business with future purchases to facilitate their ongoing success.”