The customer was an established engineering firm looking to quickly raise cash to buy out a partner. The soured relationship was proving disruptive to the business.
The business itself had had some tough years but was on the road to recovery.
The engineering assets were very old.
That was the story from the accountant - who freely advised that he didn't think we would get any real value on the assets.
Using our extensive knowledge & contact in the field we located a funder who was very au-fait with this type of equipment and was able to work on a more commercial valuation (£40,0000 against the £15,000 others had indicated)
Within 8 working days the customer had £40,000 in the bank and was able to move forward with the important stuff - running his business - which he now owns 100%
Whatever the purpose, Durable machinery can be useful for raising quick funds.
------------------------------------------------------------------------------------------------------------
Mark Jones has spent his working life in the field of debt finance, both within the banking sector and as an independent broker for the last 25 years.
He is passionate about owner managed business, and acts as a mentor, trainer and loan assessor under various Government start-up schemes.
He co-owns Business Funding Portal, and is always happy to talk a proposition through.
You can call him directly on 07932 075754
No comments:
Post a Comment