Supporting Northumberland Architects
£45,000 funding facility
At a glance:
- Project funding
- Required cash quickly
- Funds made available within 4 days
- Enabled client to fund wages & tax payments
This high-end firm of professional architects specialises in one-off big-ticket projects. As their income is based on these projects, any upheaval in their completion can cause a serious issue for cashflow.
One particular project had absorbed considerable cost and due to development complications completion was unexpectedly deferred by a month. The firm suddenly found itself needing cash urgently to meet payroll and tax payments. As this happened in the last couple of weeks before Christmas there was insufficient time to arrange a line of credit through traditional sources. Another option was to borrow via a long-term contract, but this didn't suit the client. They simply needed short term, temporary assistance.
We were contacted just a few days before Christmas and quickly arranged a personal visit so we could fully assess the situation. We were able to identify that the firm could support the required funding and that the delayed development would provide sufficient payment on completion. There was no time to lose. Working one to one with the client we were able to complete the paperwork extremely quickly and make decisions straight away. Funds were made available within four days of our first phone call. We were pleased to be able to bring a little festive cheer back to this client's cashflow, helping them pay their staff and their tax bill in time for Christmas.
'I was very impressed with the way Catalyst handled our problem. They understood the issues straight away and managed to work with us to make sure that our needs were met. If we are faced with a situation like this again I will have no hesitation in asking Catalyst to help us out.' Senior Partner Napper Architects