BACKGROUND

Our team were approached by a c.£6m p.a. labour services company that provided workforces to commercial businesses and local authorities. The company had been hit hard by a recent bad debt and had entered into an IVA. 

Following the approval of the CVA the encumbered funder requested the repayment of their loan facility. The team at Kudos searched and then submitted for a CID facility to repay the loan and also provide an injection of cash to help with the clients’ working capital needs

OUTCOME

The Kudos team were able to get approval on a £500k facility for the client with one of a large panel of CID lenders. This significant facility provided better access to cash flow for the client to allow their business to make vital creditor payments ongoing.