Looking Beyond The Surface
- Who? Accountancy firm
- Where? Birmingham
- How much? £200k
- What for? Bridging receivables
One of our accountancy firm partners recently applied on behalf of his client for a loan with Spotcap.
The client is a world leader in surface treatment, offering a full design, manufacture and installation services for metal plants and equipment. These services play an important role in protecting expensive equipment and assets against the damaging effects of water, oil, efflorescence, moss, traffic pollution, chewing gum, graffiti, and other contaminants.
The company needed a loan of £200k to bridge a gap in receivables. A key customer was supposed to pay £500k but this payment was delayed by a month, which is why there was a need to bridge the cash flow gap.
Within one working day, Spotcap approved the loan based on growing turnovers, profits, EBITDA and the good liquidity, putting the company in a position to focus on their business, not worry about cash flow.