The company had won a new contract which it couldn’t complete without a cash flow injection.
Facing several challenges this customer had only been established for 12 months, meaning technically no income steam. One of the owners of the company had credit difficulties impacting their ability to get credit. Lastly, time was of the essence, or they would miss the contract.
These reasons the customers current invoice finance partner could not help.
After a deep dive, it was clear with a flexible approach this lender could do provide a solution.
The client had in the background an office building with tenants and past turnover which allows the lender a level of security to service the risk. Although this building had a first and second charge, the lender in effect refinanced both previous loans to facilitate the £1 million interest only structured loan enabling the customer to complete the contract.
Sector: Interior design
Funds For: Short-term working Capital
Timeframe: 12 months
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