Company with Weak Financials
Updated: 14th February 2007 (AM)
Amount: £154,000
Our client is a UK subsidiary of a foreign parent company. Typically, all the profits are 'hived-up' to the parent to avoid UK taxation. In addition to this, our client's working capital was provided through loans from the parent resulting in little or no net worth to the business.
As the parent company would not offer guarantees, our client struggled to obtain funding in its own right.
They contacted us, and to date, we have arranged over £150,000 of finance for cars and IT for our client.
We were able to do this, because we took the time to fully understand the trading practices of our clients and were therefore able to present it to our funders in a more acceptable format.
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