How many times have you said “Well let’s chalk that one down to experience”? The point being that that experience may well have come at a cost and it will certainly have a value in the future (assuming one remembers the lesson!). To get philosophical for a minute, Life is a continual learning experience. The problem is that there are many occasions when one cannot afford the luxury of waiting a lifetime to gain the necessary experience.
This is particularly true in a business situation. If the necessary knowledge and experience is not available ‘in-house’ then an awful lot of time and money can be wasted and opportunities lost. Sadly at BFS we come across this all too frequently. In some cases it is a question of Management simply making the wrong, uninformed decisions. On others they just wait too long before asking for help from an acknowledged expert. The results can be anything from vaguely annoying to disastrous and terminal.
This is a point we have made on several occasions before of course. In the case of BFS we would always ask business managers to ask for our help sooner rather than later. Arranging finance takes time, particularly on those occasions when your Bank has said ‘No’. This is infact where we traditionally come into the picture! One of the questions we are asked on a regular basis is “how long will it take”. The true answer is that we can never be sure, especially if, during the application process, we find unexpected skeletons in cupboards. In general terms the funding period can run from a couple of weeks for Invoice or Asset Finance to several months for substantial Loans or Equity investment. What we can be sure of, however, is that for the business owner/manager it makes sense to approach us sooner rather than later.
There are others, however, who can benefit from our help and experience. As you may be aware Opus Restructuring Llp recently took shares in BFS. Their main reason? They wanted to have better access to our knowledge, contacts and experience. Others can also benefit from an association with us. I refer particularly to Law Firms or Accountants whose clients are in need of finance but cannot get it from their own Banks for a myriad reasons including lack of sufficient security, over-gearing or even past record. In many cases we can help due to our wide range of contacts with ‘Niche’ Lenders in a wide range of specialist areas.
Indeed we are already working with a number of Law and Accountancy Firms and with some success in terms of funding their clients. It is also worth mentioning that we are also working with some of the main Banks on the same basis i.e. if a potential client cannot meet their lending parameters they will approach us to see if we can help. We have recently had success with one such case locally and are working on others at the moment. Such arrangements will always be reciprocal in that, where possible, we will (and have) put leads back the other way.
So, if sourcing commercial finance is something you struggle with, call in the experts at BFS on 01327 349 779 or e-mail us on firstname.lastname@example.org . We do not charge for an initial “Get to know you” Consultation and you will be surprised at how we can help, and if you are in serious trouble we can always call on our colleagues at Opus Restructuring!
As we always say – Our Clients come first, and STAY!