Rapidly growing, private equity supported company offering ride sharing services to consumers both in the U. S and abroad
Issues -- Company had been financing its rental fleet through a series of leases. While this provided sufficient funding, with the companies projected growth this plan was considered a very expensive alternative.
Solution -- Establish an off-balance sheet special purpose vehicle which would own all the vehicles in the rental fleet. The special purpose vehicle was then able to access the debt capital market, thus providing the company with both inexpensive debt financing but also a facility which could accommodate the companies projected rapid growth.