Our close working relationships are at the heart of our service
How we have helped our clients
The Bank was able to provide an import loan against a specific purchase order to help with working capital. In essence this is a short-term loan to allow upfront costs to be paid for a particular contract. Once the client has invoiced and has been paid, the loan is repaid and can be used again for another contract. The Government provided an 80% guarantee so the Banks risk was minimal.
Outcome
We were able to quickly establish who the client’s Bank Relationship Manager was through our contacts and arranged for a meeting. With the client’s consent, we discussed working capital options and, whilst initially unwilling to help, we asked the Bank to consider the General Export Finance Scheme. This is a working capital scheme where the Government can provide a guarantee to help to reduce the Bank’s risk.
Solution
A wholesale business needed working capital to help with growth. The business was relatively small, had no assets and did not even know who its bank manager was. The business mainly sold to the UK market with around 10% exported to Europe. The company was paid relatively quickly but was struggling to fund the upfront costs of production where it had won several large orders but did not have the cash to fulfil.
Issue
Assisted a business with an innovative working capital solution.
A working capital facility was provided which allowed the business to begin work on its new contract and take on additional work knowing that its working capital needs would be met.
The additional property loan was also agreed which gave the business additional upfront working capital. The business is now trading profitably and benefitting from continued growth.
Outcome
We gained a closer understanding of the business and its working capital cycle as well as liaising with the incumbent Bank to understand why support was not forthcoming. We then introduced a local, niche working capital provider who worked closely with the client to understand its needs.
Alongside this, we introduced an alternative lender who was happy to provide finance against the property that the business owned on a forecast led assessment (i.e. appreciating the business could afford loan repayments from future income.)
Solution
A perfect storm of Brexit, increasing energy costs and Covid saw this manufacturing business make losses for several years. Its High Street bank was reducing its overdraft facility monthly and following the win of a major new contract, the business was struggling to fund working capital.
Issue
Assisted a loss-making business to secure working capital to fund a major new contract which would see exponential growth and profitability.
