Traditional values : Modern solutions

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Credit Card Statement Loan for a Welsh Restaurant - Professional Introduction

Sector: HOSPITALITY & CATERING | Value: £28,000
Equipment type: Credit Card Statement Loan | Term:

Bathgate arranged finance for a new restaurant.

Problem:

The business had been trading for less than 12 months and had incurred high level of expenditure refurbishing the restaurant, which impacted on their ability to pay VAT due.

 

Approach:

Bathgate's knowledge of the finance market let to a solution being identified.

 

Solution:

Their credit card turnover reflected the business had achieved steady growth, which enabled the client to take out finance based on credit card receipts.

Repayment of the facility is linked to future credit receipts, helping our client meet debt service commitments.