Our client is a growing accountancy firm who needed finance to cover their short term cash flow needs.
With the need for finance identified by the accountancy firm they approached The Funding Store.
Their brief for us was to source short term finance at a market competitive rate. The finance would be needed in their bank account within 5 working days.
We quickly identified suitable finance options from our panel of reputable lenders who could meet our clients brief.
On the same day we went back to the client to discuss the various options available to them. In particular, a credit facility was identified as a possible solution.
Credit facilities are flexible lines of credit, designed for small and medium-sized businesses. They can provide working capital finance, easing any pressure on cash flow. They can be an alternative to taking an overdraft, which can now be more difficult to secure from the banks than they once were.
The client chose a credit facility that would meet the cash flow needs of the business and allow them to access the £200,000 as and when required.
The facility term was at a competitive rate and over 12 months, but with the option to continue thereafter if required. There was no arrangement fee charged by the lender.
The credit facility was opened and the client was able to draw down funds within 48 hours, beating their 5 working day required turnaround.
We received excellent feedback from our client for our service and support.
Contact us today to discuss how we can help you secure finance for your business.