Deal of the Month
19th December 2018
Our regular updates will include a summary of a recent successful high quality loan application. If you have clients in similar circumstances, we would love to have the opportunity to help!
One of the many recent Newable Business Finance loan applications we received from one of our introducer partners was from a business engaged within the medical consultancy arena. They specialise in arranging conferences to promote new drugs and treatments which are to be launched. Follow up events involving various specialists and doctors are arranged which facilitate the discussions of the potential benefits of the new drugs and treatments.
How we helped
The applicant’s revenues had increased by 28% to just under £3m per annum with healthy profit margins shown. The latest balance sheet showed strong tangible assets and EBITDA showed that the requested loan of £150,000 over 5 years could comfortably be serviced. Furthermore, the bank statements provided in support of the application showed a well conducted account which operated in credit and the directors were property owners with considerable equity available.
Newable was therefore delighted to support this application subject to the personal guarantees of the directors and then a Debenture.