During it's life time it is possible for a business to encounter a situation beyond the management's control. Such events can include:
- The cancellation of an order
- A payment dispute with a customer
- Non payment by a customer
- Illness of a Partner/ Director
- Aggressive action by a creditor or bank
In such circumstances the management of the business may struggle to obtain positive advice from their usual consulting circle. Putting the right strategy in place within the right time frame can save the business and help it to thrive again. R&E Finance has many years' experience in advising sole traders, partners and limited companies on how to survive in such trying circumstances. Here is a case we were able to help recently:
A hotelier in the North-East owned a hotel for many years. Unfortunately, due to change in circumstances, the business was in a CVA. A prospective purchaser saw a great development opportunity and for the transaction to go ahead, it was essential to discharge the pending CVA. On this occasion we were able to arrange the necessary funding despite a limited proof of income. The essential funding to secure the sale deal and to discharge the CVA was secured on the principal's private residence.
Where there is a financial challenge; there is a solution. The trick is in asking the right questions.
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