Traditional values : Modern solutions

Visit us on Facebook
Visit us on Facebook
 
Visit us on LinkedIn
Visit us on LinkedIn
 
Visit us on Twitter
Visit us on Twitter

Local Family-Run Business - Professional Introduction

Sector: FLOORING | Value: £109,000
Equipment type: VAT & WORKING CAPITAL | Term: 3 MONTHS & 3 YEARS

We helped this flooring company acquire VAT and working capital funding.

Problem:

This long-established, family-run business had seen the business expand to five shops in and around the Liverpool and Wirral region. This growth caused a tightening of cash flow and a slowing down of further expansion plans.

 

Approach:

We were initially approached by their accountant to spread the cost of the Director's personal tax. However following further communication with the accountant and their client, it was established they had a need to also spread their upcoming VAT payments and raise a further £60k working capital to aid further expansion of the business.

 

Solution:

A short term unsecured 3 month and 12 month loan respectively was sourced to facilitate the VAT & tax. An additional £60k was raised equally between two funders, repayable over 12 & 36 months to support the business growth plans, which included purchasing of artificial grass to sell during the summer months. All facilities were supported solely by the Directors' guarantees.