Don’t lose your marbles; our funding partners can secure a cash bailout a lot faster than the Greeks managed!
If you find your business is running out of money we have access to quick decision makers to help you get funding. Furthermore, their credit applications go nowhere near Brussels.
With its banks closed and only a paltry 60 Euros ATM withdrawal allowed per day, the Greek tragedy to end all Greek tragedies finally came to some sort of denouement this week. However, with the streets of Athens burning as a weary public realise they may have been shafted, expect some sort of curtain call for the main protagonists.
The whole sorry story does rather hammer home the importance of cash, or more to the point the danger that a lack of it brings. It is hard to imagine how it must feel when full access to your own hard earned money is denied by the very people tasked with sorting the mess out. One can only assume that from now on Greek mattresses will edge slightly closer to bedroom ceilings and become a lot lumpier in the process.
Beware the Sirens
Financial crises come in all shapes and forms and in business they can be as unexpected as they are unwanted. The thing they all require however is a speedy and flexible resolution as a sudden cashflow blip can soon turn into a cash strapped business heading for the rocks.
Luckily for businesses the commercial lending market is no longer the exclusive domain of men in grey suits all trying to wedge the same square peg into every round hole. With new players entering all the time the variety of products available covers every kind of funding requirement across a wide selection of industries.
A new (rosy fingered) dawn
This fresh approach to business funding also comes with a personal touch where credit scores are replaced by somebody who really wants to understand how a company operates.
Armed with all the facts, gained at first hand, those with money to lend are often able to part with it more quickly than the traditional players simply because they don’t have to constantly go back for information the computer forgot to ask and then watch it grind through a long reporting chain.
For those still hung up on nostalgia, a look around the market and an informal discussion about the options should still be a serious consideration. After all, embracing the new could mean the difference between business survival and growth or the lead role in another tragedy.
Tradition does have its place of course but in finance the old way of doing things is, as Homer might have said, currently about as popular as a German towel on a Corfu sun lounger.
by Steve Leeves