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Insurance services - Professional introduction

Sector: Insurance | Value: £207,000
Equipment type: N/A | Term: 9 months

Business required finance to enable upcoming tax liabilities to be settled and provide ongoing working capital

Opportunity:

Client was introduced to us by their accountants. There was a requirement to fund their pending corporation tax payment. The business was also looking to retain cash within the business after some significant cash outflow over the past 12 months.

 

Approach:

We approached an experienced professional practices lender who was able to turn around a decision within 48 hours and tailor the facility to meet the client's needs.

 

Solution:

A working capital loan spread over 9 months, supported by personal guarantees from the directors and a cross company guarantee from the holding company, was arranged.