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Local Solicitors Firm - Professional Introduction

Sector: Legal | Value: £210,000
Equipment type: Working Capital Loan | Term: 12 MONTHS

We arranged a working capital loan for this existing customer.

Problem:

The client required finance to cover an upcoming VAT payment and to create an ongoing working capital facility. The challenge faced included losses showing in their latest MI, restructuring of one of their departments which led to a number of redundancies and exposure with a number of finance providers.


Approach:

We met with the client to fully understand their requirement and identified that the current cash flow position was short term. The forecasts demonstrated a positive outlook over the next 3-6 months.


Solution:

A flexible 12 month facility was sourced that allowed the client to repay early after the first 3 months without any early settlement penalties.