TP24 facilitates accountancy firm with £250,000 for expansion and working capital support

Location: Great London

Industry: Accountancy

Revolving Credit Facility: £250,000

Our client

Accountancy practice that has been operating for almost 50 years, providing an array of services across corporate accounting.

The challenge

They wanted to purchase a large book of clients from another accountancy practice to further expand their proposition.

Our client also needed a facility that would allow them to draw down large proportions of their debtor book on the same day to support general working capital needs and staff wages.

The solution

We supported our client by offering them a Revolving Credit Facility that would allow them to draw down the funding they need at the exact time they need it. This allowed the business to avoid unnecessary interest and fee costs incurred by unutilized funds, often applied when taking term loans which the business previously used.

‘Superb service & Product

Tarun and his team were excellent from start to finish, cannot fault anything about the process or the communication. Would highly recommend!!