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I cannot get cashflow facilities from my bank?
The bank are asking for a lot more paperwork that before?
Why are the bank increasing my borrowing rate?
Why are they looking for personal guarantees?
Do these questions seem familiar?
During the boom years access to credit was a lot easier. While that helped investment it did not necessarily support GOOD INVESTMENT. The world of banking, coming out of the boom, has had a radical transformation. Initially the provision of new lending froze. Banks consolidated and reassessed what they should be doing. This process is ongoing but we are starting to see their new business model. 2 things will happen:
1. Credit will SLOWLY return as the banks get more access to money themselves. In the meantime it will be rationed.
2. Banks will be very cautious on who they give money to. The mantra will be “prove what you want it for, prove how you can give it back, prove how you can give us some collateral”.
We can work with you and your business to establish a better “fit for purpose” banking arrangement with your bank going forward. We have already successfully negotiated new arrangements since the crisis for businesses in a range of industries.
Call us for an initial assessment.
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