There is no better endorsement than a client returning to ASC to secure further finance, as was recently the case for a client of Philip Thompson, from ASC in Buckinghamshire, and that was not only once, but twice.
Philip’s client first contacted him during the pandemic and was initially looking for assistance with a CBILs loan, one of the government-backed loans, which Philip was able to secure, providing them with vital funds at a challenging time for many businesses.
The client also wanted a change in banking as his bank were unable to meet the clients’ needs because he traded outside of the UK, including Cambodia and Vietnam. Banks were reluctant to open new banking facilities during the early days of the pandemic, however, Philip was ultimately able to place him with a bank who provided international banking who had previously said no to the client’s request of opening a new account with them.
Philip took the time to understand our client’s requirements and was able to secure a loan for £650,000 in finance with the bank through the Recovery Loan Scheme, also a government-backed loan, to aid his client’s expansion in both the UK and oversees. Part of this new funding included refinancing the CBILs he had earlier arranged at a much more competitive rate. This meant that they were able to repay the CBILS facility and have additional funds to fuel their expansion.
Philip Thompson comments, when he first contacted me, the client said: ’we will never get this done’ and I said to him, ‘let’s give it a go’, and we did, and we got the finance – I was very proud of that. To find out how ASC can support your individual or business projects, contact one of our local offices.