Need to secure additional cash flow? How can you secure the best terms for your borrowing? How can you avoid having to go ‘cap in hand’ to your bank?
Our Bank Tender process is:
- prepare a professional Financial Business Plan, including fully recolciled P & L, Cash Flow and Balance Sheet, according to assumptions agreed by the business owner and managers.
- We also provide the business owner with a template for the Narrative Business Plan, which the owner or manager drafts, we critique this and help summarise the plan in the Executve Summary. This is package which can be used in a robust Bank Tender process.
- Issue to carefully selected Bank Managers (going to the right banks and the right people in the bank).
- Comparison of Terms, including Rates, other costs, Security, Covenants, Management Information requirements.
- Selection of preferred Banking partner, confirmation of terms, post Credit committee approval.
- Achieve Best terms
- Avoid PGs (personal guarantees where possible)
- Select best Bank Offer.
vfdnet part time Finance Directors have extensive experience of arranging bank finance and negotiating the best deal for the security able to be offered by the business. Contact us for a no obligation free discussion on how we can help you.
The client needed a good working capital or bank overdraft facility for his rapidly growing business. The vfdnet part time Finance Director reviewed the business, identified key business drivers, and together with the management team wrote the narrative business plan and prepared financial projections. These were then presented to several banks, discussed in terms of the most suitable funding, and a Small Firms Loan Guarantee was agreed. The Small Firms Loan Guarantee (now renamed the Enterprise Finance Guarantee) is not available to every businesses, but where it can be used it is very effective, as the DTI guarantees 75% of the funding requirement.