How to find funding for a specialised business (it’s not as hard as you think)Published on 20th October 2015 2015-10-20T10:29:31+00:00 - Last update on 17th March 2020 2020-03-17T15:56:54+00:00
The client’s challenge
Earlier this year we were approached by an advisor representing a forestry company, who couldn’t find the funding needed to keep their client afloat during the slow winter months. Forestry is considered a specialist sector by many business lenders, and most mainstream banks prefer not to be involved as it falls outside of their lending criteria. The company’s advisor tried approaching the bank they already worked with, but despite their relationship, getting a loan from this bank was a long and laborious process that eventually ended in rejection.
Not wanting to leave their client stranded, the advisor came to us. Through our platform, we identified a specialist lender who understood the forestry sector, and set up a three-way meeting as soon as we could. Together, the business and the lender decided to refinance some of the business’ assets, and the forestry company was offered a loan using its vehicles and equipment as security. As a result, the company was able to generate the cash required to see them through a quiet period.
The added benefit to this deal was the connection we created between the forestry company and the specialist lender, who understood their business and was willing to inject more capital when they needed it. Not only did the business find a solution to their original problem, but we also set them up with a new partnership that meant they’d never have to look very far to find funding again.
Rangewell has helped companies not only solve their immediate funding issues but also link them with long-term partners and resources, even in the most specialised of industries. Ultimately, this case demonstrates how knowledge of other financing solutions is often the key to unlocking unsolvable problems for professional advisors and their SME clients.
If you want to be part of a story like this one, click here to get in contact with our finance team, and whether you need funding for equipment or land purchase finance, contact us to see if we can help.
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