+44 (0)207 839 1980


UK Groundworks Business

Type: Asset Finance / Invoice Finance / Construction Finance

Borrowed: £2,900,000

Nucleus Commercial Finance has provided a combination of invoice finance, asset finance and construction finance for a group of companies based in Kent with turnover of £15m plus. The group had experienced difficulties with a large bad debt, and a lack of support from their bankers due to falling property asset values. HMRC had also reversed their view on a group corporation tax relief claim from seven years previously and demanded repayment of over £500k.
The chief executive sought advice on restructuring that involved a CVA, and Nucleus worked closely with the business, incumbent bank, incumbent asset finance providers and the administrator to structure a solution that included:
  • £1.25m construction facility funding applications for payment
  • £200k CID facility for plant hire business
  • £1.2m asset refinance, replacing 7 incumbent lenders and generating an additional £750K cash.
  • £250k asset finance facility for purchase of new equipment
The Nucleus solution has enabled the business to:
  • Consolidate all group lending with Nucleus
  • Repay the bank overdraft
  • Pay initial CVA payment to HMRC
  • Have working capital to efficiently run the business over long term
  • Access to additional finance for future CapEx
  • A Fixed Fee finance facility
The business had individual offers from invoice finance and asset finance providers. Nucleus was the only lender willing and able to provide a comprehensive ABL facility that included funding application for payments.

To find out more about how our powerful range of funding solutions can give your clients a new lease of life, contact us now on +44 (0)207 839 9451 or email contact@nucleus-cf.co.uk.

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