Case Studies

PRACTICE DEVELOPMENT

We received an application from a two partner firm of chartered accountants who had been established for 18 months. They required a loan of £25,000 to enable the recruitment of two fee earners. They wanted to encompass the total cost of the recruitment to include new equipment. 6 days later £25,000 was transferred to their practice account having been approved, documents signed, returned and processed in one week.

AGED DEBT

We received an application from a Barrister who wanted to fund his aged debt. The value at that time was £40,000 and we were able to forward a fixed term fixed rate loan of £30,000 on a five year term at a very competitive rate. All we required was a copy of the aged debt list, a completed application form and one week later the funds were on their way.

Aged Debt Funding for Barristers

PRACTICE ACQUISITION

We arranged finance for two parties to purchase the same practice and within 5 months the acquisition proceeded with one of them. We arranged for both parties to have confirmation that they were in funds so that they were able to negotiate in confidence with the vendor. Upon completion the successful purchaser simply signed the documentation and returned it to us, and within two days he was able to purchase a new practice.

PARTNERSHIP BUYOUT

A three partner firm of accountants applied for £50,000 so that they could re-pay the capital account of the retiring senior partner. The acceptance came back within twenty four hours and the documents were despatched straight away. The partners were pleased with the service because it meant that they could spread the cost over a five year period to reduce the impact upon cash-flow.

EQUIPMENT PURCHASE

We were asked by an existing customer to raise some funding for some specialist equipment for his surgery. We advised that on this occasion a finance lease was the best avenue to take. We took all of the hassle out of the transaction by having direct contact with the supplier. The customer had to do nothing more than to choose the equipment and then sign the relevant documentation that we presented, the rest was taken care of by our in house specialists.