Since the collapse of Lehman Brothers in September 2008 and the sharp recession that followed in 2009 the economic recovery in the UK has been the most gradual on record. In fact GDP has only recently surpassed its 2008 level. One of the reasons for this is that many businesses remain heavily indebted or are not deemed credit worthy.
Worse still as bank lending standards have tightened many businesses have seen requests for additional security, personal guarantees, increased arrangement fees/interest rates or have been pushed into factoring. Some have seen overdraft facilities reduced or withdrawn altogether.
We specialise in exactly these kinds of situation and understand the strains and stresses involved. We also understand how banks think. Our banking specialists can help you secure the best available outcome and even if bank finance remains elusive can point you to other sources of funding.
To fund a turnaround often directors find they have to put money in personally or look to family and friends. Even then there are ways of significantly reducing the risk when financing a distressed business as detailed our briefing sheet.
If you would like to discuss this issue further then do contact us. We are happy to have an initial confidential and charge free meeting either face to face, on or off your premises or over the telephone For further information telephone 0800 331 7417.