Business owners often believe that that there are limited options available when their company is suffering from cash flow problems and they start to think the worse that the company will end up in an insolvency procedure. This does not have to be the case as there are other business finance solutions which could return the company to profitability. The important thing to bear in mind is that the earlier the problem is identified and business finance solutions are implemented, the greater chance the company has to survive.
We want business owners to feel positive about the future of their businesses. Cashsolv provides business finance solutions which allow business owners to concentrate on the future profitability of their companies. Detailed below are the business finance solutions that Cashsolv offer:
If your company needs cash fast, who do you turn to for business finance solutions? It is not always possible, due to time constraints, to approach your bank for an increase in the company’s overdraft facility or to obtain a loan from the bank or another financial institution.
In some cases, it may be that the loan is not required long term and your company does not want the commitment of long term business finance solutions. Cashsolv offers short term business loans from £20,000 to £250,000 which can be in your bank account within 24 hours. Typically, the term of this business finance solution will only be for a month or so but this may be all that is required to get the company through a critical period.
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Principally we deal with asset-based longer term business finance solutions. We appreciate that it is not always possible for a company to purchase assets with hard cash.
If you require finance for vehicles, plant, machinery or equipment, we can put you in touch with our panel of lenders that we have chosen to work with as we believe they are willing to look beyond short-term problems and more at the bigger picture.
We take time to understand your financial requirements and find longer term business finance solutions that are suitable for your business.
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If you are faced with a situation where your invoices are not being paid quickly enough to keep up with your company’s cash flow requirements, then invoice factoring or discounting may be the answer.
These financing methods provide you with an advance of up to 85% of your sales invoice value. The funds are advanced by the factoring/discounting company and are available immediately and the funds are repaid when your customer/client pays the outstanding invoice.
This business finance solution can grow with your business and the more you sell, the more funding you can generate. We can assist in finding a suitable lender for your business.
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Business finance solutions should begin with a concentrated effort on bringing in the money you are owed. If you have slow paying customers which are having a negative impact on your cash flow then you should instruct our commercial debt recovery company.
We are well aware that you do not want to upset a regular customer for fear of losing future business and that is why intelligent commercial debt recovery makes sense. Our debt collection company does not send standard letters that can often offend your customer/client. We take a diplomatic but firm approach. We discuss the situation with the debtor and try to resolve any problems so that we can reach an agreement on your behalf.
As part of our successful business finance solutions portfolio, we do our best to recover debts without court action. Not only is this best for your business in most cases but courts expect you to have made all reasonable efforts to recover your debt or resolve any dispute before commencing legal action.
If your cash flow problems are further advanced and business finance solutions aren’t quite going to cut it, then Cashsolv also offer the following business recovery solutions:-
This is a binding agreement with your company's unsecured creditors, whereby the creditors agree to be paid what the company can afford, not necessarily what is owed and to write off the balance. The arrangement is binding on all creditors and in most cases is funded by contributions from future trading.
The typical term of a company voluntary arrangement is between three and five years. Directors keep control of the company during this period and the company trades as normal.
If your business has existing debts that are causing you a problem, we could assist by taking the creditor pressure off. A Creditor Cashplan™ can relieve the immediate pressure of cash flow problems and put in place a manageable payment plan.
Our unique Creditor Cashplan™ enables you to identify the older creditors and pay them over a 10 month period. We act as an intermediary, so your creditors deal with us rather than you. This enables you to concentrate on running your business.
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As a business owner you will be aware of the need to manage your finances to the demands of HM Revenue & Customs. If you fail to comply to pay VAT and PAYE liabilities as they fall due the penalties could be significant and may lead to HMRC seizing company assets. HMRC is also able to commence winding up proceedings if the situation is ignored.
HMRC can be flexible to your needs and our team work with them to arrange a Time to Pay agreement which will spread the cost of VAT and PAYE arrears over a time period that suits both parties, which typically will be a period of up to 12 months. This will give you valuable time to manage your cash flow problems. Our experienced team and strong connections with HMRC mean that such an agreement is more likely to be approved.