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British Business Bank Lends £89bn
29th September 2021
Restaurant Business Raises Finance to grow
29th September 2021

Our client is a haulage company that needed to enter into a formal insolvency process.

Company Funding Options was tasked to find new invoice finance facilities to replace the clearing banks invoice finance facility post CVA. This was a search that generated 3 clear offers of funding at 85% initial advance.  On hearing this the existing big 4 bank decided it was keen to continue to fund the business and this meant there were no charges for moving provider. We were happy to assist in the search but recognised staying with the incumbent lender was the most efficient way to proceed. And it saved the company costs and fees for changing.

This Surrey-based group has been hit by the loss of a major plc collapsing in the early stages of Covid. Our colleagues at KSA Group put together a rescue plan which was secured with a company voluntary arrangement The scheme helped restructure £1.1m of unsecured liabilities and the CVA was approved in June 2020.

After one year of the CVA the business beat its forecast to June 2021and is now very profitable. If you need funding for your haulage and logistics company give us a call, even if you have insolvency issues or are in a CVA.

Call 020 7760 7524 if you need funding or advice about debt restructuring.