Funding Secured for Engineering in Tight Time Frame
Updated: 5th October 2019
We were contacted to assist a large engineering business to secure funding. With a turnover of £16m, the business specialised in metal fabrication and installation for the food and petrochemical sectors.
The Problem
The company already had an existing Invoice Finance agreement in place; however, their provider gave notice of six weeks on the facility so it was vital that another lender was found quickly. It was at this stage that we were contacted and tasked with finding a new provider who would be able to step in before the company’s current financial agreement ended.
The Solution
A new lender who was able to provide a suitable credit facility was identified, the application process was entered into and funding was secured.
The Result
We also provided a review of the company’s current debtor position and offered tailored advice and support. Furthermore, we are providing an ongoing credit control support service to the company to ensure same problems do not occur in the future.
- Recover Unpaid Invoices of £5k+
- Expert Credit Control Services
- Stop Late Payers & Bad Debts
Free Guide for Limited Company Directors
Business Rescue Advice for Directors
- How to manage company cash flow problems
- Advice on dealing with HMRC
- Understanding rescue and closure options
- And much more...
Business Rescue Guide for Accountants
Dealing with your Insolvent Clients
- Helping you advise insolvent clients
- Spotting signs of client distress
- Exploring business rescue options
- And much more...