Confidential Finance Facility
A fashion clothing business
A fashion clothing business with annual sales of £1.9 million, where the directors had diversified into the property development market.
The directors had used cashflow to fund their buy-to-let venture to the detriment of the core business. The existing bank invoice discounter no longer wished to fund the business on a confidential basis; however the directors were adamant that they required a confidential facility.
By understanding the reason behind the fall out with the bank, our team were quickly able to recommend an independent factor that was prepared to provide the facility on a confidential basis. They were offered and accepted a £250,000 CID facility.
Due to the deterioration in the business, the majority of lenders in this sector were unwilling to provide a confidential facility. Through our knowledge of the case we were able to find the required facility and liaise with the bank to ensure a smooth transition to the new facility.
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