Business Banking and Commercial Loans
Businesses seek daily banking partners for a variety of reasons:
- New start businesses seeking a 1st time partner
- Dissatisfaction with existing bank products and services available
- Dissatisfaction with people relationships, or the long trusted bank manager moves or retires
- Significant additional or specialist support is required for a specific project where the partner bank is uncompetitive or cannot accommodate
- Lack of ongoing and increased financial support to fund 'growth startegy'.
- Stand alone products such as a new, additional or re-financed property mortgages, Invoice Finance and EFG loans where outside banks may legitimately tender
- Growing pressure to reduce borrowings. Indeed sometimes the bank may even have its own customer exit strategy.
Enterprise Finance Guarantee (EFG)
In the current climate, businesses are finding it increasingly hard to access the finance they need, particularly working capital.
This is not because the business has suddenly transformed from a success to a failure; but because the current economic conditions have made a significant impact on the availability of capital as the banks change their approach to risk and tighten lending conditions.
Under the Enterprise Finance Guarantee, the Government will guarantee lending to viable businesses to ensure that they can get the working capital and investment that they need.
This £1.3bn scheme is designed to support bank lending to UK businesses with a turnover of up to £25 million who are currently not easily able to access the finance they need. It will enable them to secure loans of between £1,000 and £1 million through the Government guarantee and is available up to 31 March 2010.
The guarantee can be used to support new loans, to refinance existing loans where the loan is at risk due to deteriorating quality of security and also to allow lenders to restructure a borrower’s debt where appropriate,or to convert an existing overdraft into a loan to release capacity to meet working capital requirements.
The Enterprise Finance Guarantee is available now through 27 lenders.
Whatever the reason, we may be able to help?
- Appoint us to take care of the ‘hard yards’ and we’ll go to market to identify those lenders best suited to partner you
- We will package and present your business to attract the banks and raise any funding requirements including EFG loans.
- Then we will manage any banks to deliver daily banking and ongoing funding support
- And try to ensure that at least two are in competition for your business to drive your costs down.
Our process includes:
- Visiting our clients to review and understand your needs and demands
- Securing all the financial, banking and background information we know the banks will want
- Structuring a 'headline' presentation to potential banking partners
- Inviting interested banks to visit you at your convenience for discussion and additional, mutual information gathering.
- Manage further feedback and enquiries, and collate bank Facility ‘Heads of Terms’ before mutually discussing your best options with you.
- Negotiating any realistic improvements to Features & Benefits offered by available funders
- Overseeing the final progress to completion
