Commercial Bankruptcy Insolvency Specialists

Commercial Bankruptcy, If you are a Director of a Company or self employed running your own small business, then the Money Advice Service can connect you to a specialised agent in corporate insolvency. They can help you from the most basic of business issues to the most complex of company problems. Not only are they able to provide you with company liquidations and pre-pack liquidations but they can also assist with a Company Voluntary Arrangement (CVA) or an Administration Order.

To speak to an advisor fill in the contact form to speak to a business specialist who can talk through your situation and provide you with a series of options – alternatively call 02380 119064.

Every business has its own unique problems. Yours may be in a position where you are struggling with sales or lack of new business. Maybe you are not being paid on time, or even at all by debtors.

Whatever the reason, we may be able to refer you to a company who can assist you with a business change programme to assist you in turning around your business. This can be offered to you at the same time as a pre-pack liquidation or CVA and can often help a company trade its way out of a negative situation rather than deciding to put a company into liquidation.

Business Finance

With the banks and many financial institutions getting continuously anxious about the monies they have lent to people, it is no surprise that companies are receiving very worrying and concerning letters from their lenders. If you have sufficient equity available in your assets, we can organise a business finance broker to contact you. They may be able to provide you with a finance offer which will enable you to pay off your existing lender and replace them with a lender that has a much more commercial mindset.

Business Mortgages and Business Finance

It is evident that despite their protestations, the main banks have all but withdrawn from property based lending and are loathe supporting companies and business individuals who are in need of financial help. The most damaging aspect to this is that the banks are not candid about their lending policies and they continue to purport to be open for business. Business as usual they cry. Not so. Valuable time can be lost finding out that the high street will not help with the consequential delay exacerbating the problem.

What then is the alternative for the business person in need of financial assistance? A Business Finance Broker will be knowledgeable about the whole of the lending market. The broker should be independent of any particular institution and will be able to give unbiased information and assistance.

If a business is in a challenging situation and finding it hard to raise funds they will need to identify whether the main issue is the serviceability of proposed borrowing or, the value of the security to be relied upon. If the ability to repay is hard to prove, but adequate security is offered, the solution may be a short term or bridging loan, sometimes called a high speed bridging loan – such as it is because a valuation and legal due diligence are the only processes and these can be progressed simultaneously and quickly. This means that the borrower quickly receives much needed funds and has a window of time to address the ongoing issues affecting his business and the broker can work to prepare the business for a more traditional business mortgage. If there is no suitable security they can look to other types of business finance such as receivables finance. This can take the form of factoring or confidential invoice discounting. This is effectively an instant advance against monies owed to the business.

In fact the economic downturn has seen the evolution of more imaginative ways for business persons to raise cash. Payroll funding is relatively new. The lender meets the payroll of a company for two months. On month three and thereafter, the lender meets the payroll again and the company reimburses the lender for month one and so on.
Another example is advances against card terminal receipts. An advance is made against projected receipts and repaid by a deduction from those payments as they are received.

Another source of funding is from private investors. People seeking a return on their monies that is no longer available from bank and building society deposits are investing directly by lending to businesses disenfranchised by the banks. This is especially prolific in the property development sector.

So next time a bank manager says that his computer cannot help – be aware that it is more than likely that an experienced business finance broker may well have an alternative solution. Brokers are committed to assist you if they possibly can.