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Reach secures £850,000 funding for specialist in the provision of security staff for high profile events
Reach Commercial Finance has secured £850,000 funding for Camberley-based specialists in the provision of stewards to high profile sporting venues.
Reach - part of Leonard Curtis Business Solutions Group - brokered the 12-month confidential invoice discounting facility with selective debtor protection, which will help reduce the risk of non-payments for the client.
Following recommendation from one of its trusted advisers, the business approached Reach Commercial Finance for help in overcoming challenges brought about by previous trading history.
Reach was also asked to remedy issues related to the clientes reliance on a single debtor, which occurred within the first three months of its relationship with new funding partner, Ultimate Finance Group.
Reach Commercial Financees Robin Goddard, who led the deal, said: We ensured that funders were aware of the business position from the outset, which meant that there were no surprises for the client or the funder.
After gathering the clients approval, we prepared a comprehensive brief for three funders which clearly conveyed its financial situation. When it was understood that they would be able to accommodate the issues, they were introduced to the client who then selected to work with the funder they felt most comfortable with. We then stepped in again to support both parties to close off the facility.
‚Robin concluded: Were delighted to have been able to add real value to this deal and that the client has been able to reap the benefits of it. As an experienced brokerage - and with excellent nationwide contacts - we were able to get a really thorough understanding of the business from the outset and ensured that we approached the most suitable, compatible funders. Ites been a positive outcome for all involved.
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Leonard Curtis is a trading style of Reach Commercial Finance Limited, registered at Riverside House, Irwell Street, Manchester, M3 5EN. Company Register number is 09056450. Reach Commercial Finance Limited is authorised and regulated by the Financial Conduct Authority, FRN: 753686. Reach Commercial Finance Limited is an authorised credit broker and not a lender. We work with an unrestricted number of lenders to find a potentially suitable arrangement for your consideration. ICO registration ZA069234 and you can check via www.ico.org.uk. We will receive commission from lenders. Different lenders pay different amounts depending on different commission models. For transparency we work with the following commission models: fixed fee, fixed rate of commission, percentage of the amount you borrow and rate for risk (this is based on the risk profile of the business). Further details of the commission model, calculation and amount will be disclosed to you throughout your customer journey. Privacy notice.
Leonard Curtis Legal Limited is a limited company, registered in England and Wales with registered number 09820186. Registered office: Riverside House, Irwell Street, Manchester M3 5EN. Leonard Curtis Legal Limited is registered with the Solicitors Regulation Authority with number 626004.