Another year completed with a successful Xmas Eve turnaround!
It took till Xmas eve but PCF managed to complete the successful refinance of a south-west based Fire Services Prevention specialist inside a month. Established for many years and growing both profitably and successfully, to around £8million turnover, the company decided to expand into the land and property development sector, which resulted in the over-gearing of the business, causing the existing incumbent fintech lender to become nervous. Following detailed meetings with the client Partner Commercial managed to obtain appropriate and revised cash flow finance facilities for the client, north of £1m to allow for repayment to the existing lender and a move to a new and specialist ABL provider, with a great commercial and flexible approach to cashflow matters. PCF provided advisory services to all parties along the way including the original fintech funder and will continue to do so into 2020, to achieve a complete turnaround for the group. If you have a business that needs help to either improve or replace an existing funding position for the benefit of all parties then contact us at www.partnercommercial.co.uk