Challenge:

Raising Working Capital Facilities to support seasonal activities during a challenging period of the performance.

Timeframe:

5 months

Situation:

• Seasonal business undergoing major Business Turnaround; and
• Major concerns over levels of cash resources to support business in the short and medium term.

Tasks:

• Source additional funding to ensure liquidity over the next three years;

Actions:

• Prepare five year Business Plan;
• Make initial approach to a number of banks to assess appetite for support;
• Shortlist two banks, develop relationships, obtain detailed feedback and proceed to credit committee;
• Obtain offer of funding from the banks.

Results:

• Obtained two offers;
• Changed banking relationship to take up preferred offer;
• Rationised and improved control of banking arrangements;
• Reduced banking charges;
• Earned higher interest rates on cash surpluses.

Testimonials...

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