SME and Finance

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Project Merlin - target for lending to smaller firms missed - February 13, 2012

Figures released by the British Bankers' Association have shown that the five main UK banks missed their Project Merlin target for lending to smaller firms, but exceeded the overall lending target.

The banks met their overall commitments last year, with gross new loans of £214.9bn, but £74.9bn was lent to smaller firms - less than the £76bn target.

Stephen Gildert, EMEA head of SME lending at Experian, commented: “Demand for finance from creditworthy small businesses is subdued. There was a great deal of hunkering down and managing for cash throughout the downturn, and many of those now looking to invest are turning to cash reserves in order to fund growth ambitions. Flexible forms of finance are very much the flavour of the day for those that do want credit.”

Highlights from recent Experian research into SME finance:

·          Three quarters of the SMEs polled stated that they had access to additional cash that they could use within their businesses.

·          Almost half claimed they had access to cash reserves that they could use to fund their growth activities, while 19% had money set aside to cover emergencies.

·          Just under a quarter of firms polled intend taking on new credit during 2012.

·          Of the firms polled, 33% were undecided as to whether they would take on new finance.

·          Of those that intended to borrow, the greatest demand will be for flexible forms of finance such as business overdrafts (26%) and company credit cards (23%).

·          Only 8% of firms that had previously applied for commercial credit claimed to have been unable to obtain it.

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A Big Thank you from Human Film

Liquid Recovery worked quickly and efficiently, recovering the debt within one week. Liaising with them was simple and required very little input from our side, freeing up valuable time for us to expand our business. Highly personable, liquid were a pleasure to work with. Their approach to debt recovery was clean and professional at all times and their service exceeded all expectations.


Many thanks,
Isabelle

Because your invoices should be paid on time.

 "If anyone is looking for an articulate, friendly & knowledgeable debt recovery service then look no further than Rashmi !. I can attest to her rapid service, even debts we have been trying to recover for YEARS were paid within the week once Rashmi was on the job, incredible or what !. We have tried for years to find a good debt recovery / debt management Company and now we have we won't be moving anywhere else - I highly recommend you speak to this Lady and the team at Liquid Recovery for credit control or debt recovery.

- Steven Barrett Managing Director, Portel AV Limited"

What are clients say about Liquid Recovery

“Hi Team,

 

I would like to thank you for the service you provided  in recovering an outstanding debt owed to me, you were totally professional and very speedy in resolving this dispute, I would have no hesitation in recommending you to anyone in the same unfortunate position.

 

I also found your fee’s more than reasonable; I have every confidence in the future of challenging any none paying debtors knowing you’re around!!!

  

Thank you once again.”

Steve Wright
Director

Nationwide Decorators Ltd

Liquid Recovery and Avanti working to help the SME

Liquid Recovery is here to help businesses with ensuring they have a healthy cash flow.

There will be occasions when recovery of a long outstanding debt will be sufficient to solve a short-term funding gap.  In addition, in cases when credit management and credit control are key issues this will potentially have a permanent, negative impact on the cash flow cycle of a business. 

Examination of systems and procedures should be a starting point – tightening up on credit policy, audit trail and chase-up procedures is fundamental to ensuring debt turn is optimised.  When this is not enough to meet business needs, Liquid Recovery would look beyond its usual remit and call upon independent support to put in place a bespoke financial solution to help.

Avanti provides a fast, free, independent specialist service to businesses requiring Factoring or Invoice Discounting.  It helps owner-managed businesses in a variety of situations including: new starts, periods of expansion, financial stress (e.g. CCJs and voluntary arrangements) and re-structures.  Invoice finance will release the cash that is tied up in an unpaid sales ledger to improve working capital and finance expansion.  Avanti has strong relationships with bank funders and independent financiers and can find a facility that meets individual funding needs and service levels at the most competitive price.

If you would like to know more email info@liquidrecovery.co.uk or call 0844 811 9463 quote MK/B.Coo