This episode of The Business Finance Podcast is a Q and A special!
Phil and Jack discuss five very different enquiries we've received in the last week, giving examples of the challenges faced and the solutions we have implemented or recommended.
1 - A client looking to use purchase a machine via Asset Finance, to help service a new contract. The challenge is that revenue will not come in for a few months, so they needed a way to put as little cash down as possible. We discuss zero deposits and VAT deferrals.
2 - A client was looking to sell the shares in his business to his son and the general manager, after failing to secure the right finance via a previous broker, we explain how we restructured the deal and delivered an unsecured loan of £400,000.
3 - This business has won a contract in the United States, but needed a solution that would allow him to recieve the majority of his revenue once he's raised an invoice. He was also concerned about delayed or non-payment and how he would be able to protect his business and collect on the debt. We discuss International Single Invoice Finance with Bad Debt Protection included.
4 - In this example a client had bought a commercial property at auction and needed to find the funds to pay for it within 5 weeks. We explain how a bridging loan was the best choice in this instance and how we secured the funding within 3 weeks and set up a commercial mortgage allowing his to pay off the bridging loan within 2 months.
5 - For the final example we discuss a client that works with Eastern European Governmental Departments, but they only get paid at the end of each year when their client gets their EU Funding Grants. They were looking for a loan to help them with cashflow, we discuss how we recommended a Revolving Credit Facility as this was going to be an ongoing challenge.
It's a value packed 13 minutes! No matter what business you are in, you are sure to find some of these examples of interest.
If you have a business finance challenge, please feel free to contact us via www.thebestgroup.co.uk
Thanks for joining us, we appreciate your support!