HOW A CAF BANK LOAN HELPED KENT & EAST SUSSEX RAILWAY
Kent & East Sussex Railway (K&ESR) is a tourist attraction
and educational charity looking after 100,000 visitors who travel
on the railway every year. The company needed a loan to re-finance
some existing debt, which had been incurred in 2000 to extend the
length of the railway line, and finance for new office
accommodation.
K&ESR sought three quotes and CAF Bank came up with the best
terms for a loan.
The terms of the loan were carefully drawn up by CAF Bank to
ensure that the repayments were within K&ESR’s capability to
repay both the principal of the loan and the interest, continue to
achieve adequate revenues from their operation, and ensure that
they had sufficient capital to run the charity effectively.
The loan has enabled K&ESR continue their vital work of
preserving the railway and delivering a historical education - a
key part of Britain's industrial heritage - and improve their
working environment.
“CAF Bank were easy people to deal with, they understood our
requirements and were able to take decisions quickly. CAF Bank are
able to operate without undue bureaucracy and to minimise the costs
associated with a loan.
“We would certainly recommend CAF Bank to other charities.
We particularly like their electronic banking system (BACs) which
is easy to operate and is very quick to process payments. This was
markedly better than the system that we had used previously with
another bank.”
Philip Shaw, Finance Director,
Kent & East Sussex Railway Company Ltd.
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