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Bank Statement Loan for Logistics Company - Professional Introduction

Sector: Logistics | Value: £36,000
Equipment type: Bank Statement Loan | Term: 9 Months

A specialist logistics company came to us for help in finding a loan.

Problem:

This business had incurred a high level of expenditure overhauling their IT systems, which impacted on their ability to pay VAT due. Historic trading figures and latest management information restricted the finance options available to them.

 

Approach:

Bathgate worked with their accountant to collect required financial information in order to present options to selected funders, with a key issue being timescales.

 

Soluions:

A short term loan of 9 months was approved based predominently on statement activity. Whith new sales contracts agreed, the trading figures should improve over the next 12 months.