Banking and finance

WV-Coin-stackBanking and finance

At Wright Vigar we are delighted to be able to offer an independent business banking consultancy service to provide our clients with support and advice on all business banking related matters.

During the economic downturn over the past few years, and changes within the banking sector we have seen a significant reduction in available credit to help businesses with their working capital needs and growth plans.

Whilst there is still finance available and the banks are still lending to viable businesses, this is at a much reduced rate and the criteria required to be successful with your application has changed significantly. The requirement to produce a robust business plan supported by sound financial information and projections is now paramount.

At Wright Vigar we are able to assist with the production of this information and utilising our relationships with the main high street banks and other funders, we are able to deliver this to the banks in conjunction with our clients and help negotiate the right outcome.

Many clients have found the last couple of years very difficult and sometimes the relationship with their bank has become strained. There is often a nervousness on the client’s part when meeting with the bank. Having spent over 30 years with one of the major high street banks, we work with Tim Daniels and a number of other professionals in this area, who are able to use their past experience to offer support in face to face meetings, to help in negotiations, and help retain the support of the banks.

There are often times when due to current policy requirements of certain banks, the structure and amount of funding required by the business is not always available from the high street banks and often this support needs to be obtained from more specialised funders. With the growth of Invoice and Asset Finance more and more players are coming into the market and again through our relationship with these providers we are able explore these options.