Invoice Finance - offshore survey company.
- £25 million T/O operation fully supported by its bank.
- Experienced a cash-flow deficit due to misguided strategy.
- The bank progressed Invoice Finance and completed full audit report.
- While Barclays remained fully supportive the bank could not overcome the ‘milestone’ issues within the trading contracts.
- After a joint meeting with customer and their bank, two independent IF lenders engaged.
- £3 million borrowing facility provided to the customer.
- B2B also secured funding for Directors personal yacht costing £200K.