Getting the Best out of Your Banking Relationship
At various stages of a business development finance will need to be raised. Accessing the right mix of finance can be critical to the success or failure of a business, and the overall return that might be made by the entrepreneur. There are a myriad of providers of finance, generally in the form of debt or equity providers, but also grants should be considered.
Secantor has considerable experience of working with providers of finance and can guide clients as to the most appropriate mix of finance. Perhaps more importantly, Secantor can help to articulate the business case and provide the necessary financial information to ensure that the funding proposition has the best chance of success. The credibility offered by Secantor’s involvement cannot be underestimated since for many providers, applicants only get one chance to present their case. Understanding how to cover off the essential elements is critical for success. Generally, Secantor works with clients in the £2m - £50m turnover range and for companies looking to raise between £50,000 and £5 million.
The funding range of £250,000 to £2 million requires particular skill sets as many of the private equity and venture capital providers want to look at larger deals and the banks are looking for security against their lending. Not only do funders want to see a proper business plan to accompany a request for finance but they also wish to ensure that the correct financial disciplines are in place to monitor business performance, post lending. This is at the heart of the Secantor service for ongoing relationships with clients.
Douglas Kerr, a past Chairman of Secantor explains, in the video opposite, how you can improve your relationship with your bankers.
