A growing recruitment company based in the South turned over £1.2 million last year but was struggling to find a new lender due to issues with incorrect paperwork and resulting credit notes.
We were approached by one of our introducers to see if we could take out the existing lender quickly to fund payroll, which was due within the week.
Within 5 working days, we managed to help the client tidy up their ledger, verify the debt with their customers, pay off the existing lenders, and meet payroll requirements.
How did we do it?
First, our introducer saw that we would be an excellent fit due to our commercial approach with credit notes and the quickness with which we underwrote.
We needed very little information to approve—there was no need for a survey. Our new business team was able to establish rapport with the client and their consumers.
In conclusion, effective communication, open-minded commercial decision-making, and quick reactions resulted in a successful firm.