Reach Commercial Finance has secured £850,000 funding for Camberley-based specialists in the provision of stewards to high profile sporting venues.
Reach – part of Leonard Curtis Business Solutions Group – brokered the 12-month confidential invoice discounting facility with selective debtor protection, which will help reduce the risk of non-payments for the client.
Following recommendation from one of its trusted advisers, the business approached Reach Commercial Finance for help in overcoming challenges brought about by previous trading history.
Reach was also asked to remedy issues related to the client’s reliance on a single debtor, which occurred within the first three months of its relationship with new funding partner, Ultimate Finance Group.
Reach Commercial Finance’s Robin Goddard, who led the deal, said: “We ensured that funders were aware of the business’ position from the outset, which meant that there were no surprises for the client or the funder.
“After gathering the clients’ approval, we prepared a comprehensive brief for three funders which clearly conveyed its financial situation. When it was understood that they would be able to accommodate the issues, they were introduced to the client who then selected to work with the funder they felt most comfortable with. We then stepped in again to support both parties to close off the facility.”
Robin concluded: “We’re delighted to have been able to add real value to this deal and that the client has been able to reap the benefits of it. As an experienced brokerage – and with excellent nationwide contacts – we were able to get a really thorough understanding of the business from the outset and ensured that we approached the most suitable, compatible funders. It’s been a positive outcome for all involved.”
For further information on how Reach Commercial Finance can support your finance requirements get in touch on 0800 993 0193 or hello@reachcf.co.uk.