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Accountancy firm - Professional introduction

Sector: Professional Services | Value: £60,000
Equipment type: N/A | Term: 24 months

Client required a working capital injection following an acquisition and investment in a new service.

Problem:

An existing client had recently opened a new office and strategically merged with another firm. The client had also invested in a new service. All of these developments had put pressure on cash flow.

Approach:

We approached an experienced professional practices lender who was able to turn around a decision within 24 hours; in fact we had an approval within 3 hours.

Solution:

A £60k working capital loan spread over 24 months, supported by a personal guarantee from all directors, was arranged.