Agriculture Business Resolves HMRC Arrears and Cashflow Strain with a Commercial Loan
Company Sector: Agriculture
Loan Types:
Commercial Loan
Loan Amount:
£100,000
Loan Purpose:
Working capital and replace high-interest borrowing
The Challenge
Undergoing a legal case with a previous contractor for which they were owed tens of thousands of pounds; our client was in a high-stress situation when they contacted us. The situation had led to the client facing immense pressure from HMRC as they had fallen into arrears. Approaching the limit of their business overdraft, the client was also struggling with operational cashflow.
Our Solution
Understanding that timing was the key to finding a solution, we immediately approached our Tier 1 lending panel. Due to some of the issues the business was facing, the lender initially declined the business. We negotiated with the lending panel and were able to overturn the decision. Our strong relationship with the lender meant we were able to secure £100,000 for the client at a favourable interest rate, over the longest term available.
The Results
Our solution allowed the client to:
- Continue their business operating as usual
- Make payments to HMRC to relieve pressure and avoid further penalties
- Clear their high-interest business overdraft, saving money on interest.
The Commercial Loan we sourced allowed overpayments, enabling our client to overpay to reduce their interest. The Loan had the option to repay early without penalty so that the client could settle once their outstanding invoices were paid.
Efficient & Relentless Approach
Our client appreciated our efficient and relentless approach, stating:
“I am often cautious of credit companies, as too many seem to prioritise commissions over ethical selling. However, I was fortunate to come across Charlie Edwards, whose professionalism was evident within the first five minutes of our conversation.
He took the time to carefully listen to my needs and ultimately came back with the right deal to suit my circumstances. In fact, he went a step further. While I was considering the initial offer I was prepared to accept, he continued working on my behalf and found an even better deal, which I eventually took up.
I will not hesitate to recommend Charlie and his company to my own clients seeking finance, as well as to anyone I know who is considering financial solutions to support their progress.”
If you're facing similar challenges and want to explore the options available, get in touch 01832 770 273