Over the past few weeks, the Lily Head Finance team has held its regular review meetings with it’s Tier 1 Lending Panel. What struck us, was the importance the main High Street Banks are now placing on the debt advisory/credit broking channel, as a source of new business. In some cases, this is now accounting for over a third of all new lending cases.
Bank branch networks are shrinking, and Business Manager numbers reducing. SMEs are finding it increasingly difficult to identify who they need to speak to about their plans. Business owners seeking funding are therefore more likely to seek support from specialist debt advisers. Lenders tell us, that a comprehensive funding proposal is even more vital now, for a quick and positive turnaround. There is also acceptance that a competitive tender process is the preferred route to secure the best terms.
Lenders are also alive to the requirements of ‘Consumer Duty’ which the FCA have introduced this year. Lenders will only work with advisers who can demonstrate a client focused, compliant process. As members of the NACFB. Lily Head Finance has a proven process for providing clients with an informed choice of funder and finance package. We can work with clients on early-stage transactions and work up a detailed proposal. Alternatively, we can pick up a mandate to manage a tender process if their advisers have already prepared an IM/Business Plan but have yet to test the debt market. Our support of a client will encompass the sourcing of indicative terms for the deal structure. We help secure the best pricing, gain credit approval and then help to manage the transaction process through to drawdown. This allows the business owner to maintain focus on their key priorities.
Sean Wood, Director, Corporate Finance is taking the success Lily Head Finance has achieved in the dental sector and extending our sector coverage across the full range of trading businesses. If you think our solutions might complement your services, then Sean will be delighted to hear from you.
Please Contact Us if you would like to learn more about how to get the best finance deal with the best terms.
