Existing recruitment business which experiences very seasonal income streams. The company had suffered from a difficult trading period and was making heavy losses. It was heading in to one of the busier times of the year but the time lag between securing income and paying overheads was too great, potentially resulting in company failure.
UHY CF Solution:
We were engaged to assess the company’s funding options and to support the directors through this difficult period.
We attended Board Meetings and had some very frank discussions regarding cash flow and the changes the company will need to make if it is to successfully navigate through this challenging period and survive in the future.
We used the Capitalise online platform to make one application to the lending market, inviting over 110 providers to tender.
An emergency cash flow lend was successfully secured. The company made significant changes to its overhead base and the combination of the two saw the business successfully reach one of its peak times of the year