The key message we are getting from the banks is that we are out of recession and they are open for business. The pillar banks are keen to point out they are lending but the environment is very different from what it was pre-recession. Banks are interested in lending, but quality lending is key. Murray Cloney have developed our services to respond to the post-recession needs .The key points to our services are as follows.
Management Information System
Your bank will be looking for frequent updates on your performance. It’s too late to wait for six months after your year end for historical accounts .They will need to know month on month how you are progressing and to see if you are on target and to work with you to respond to fluctuations from projections. Our role is key here in so far as we can;
- Help you prepare your projections.
- Attend monthly or quarterly bank meetings with you.
- Put in place a management information system designed to prepare the necessary reports.
- Where you don’t have an internal accountant we can put our team in charge of doing your books for you (usually remotely in the cloud).distance apart is not a problem.
Basically we identify the need to have timely information for management decision and banking purposes going forward and we will work with you to achieve success.
Whether you are starting a business or involved in a management buyout, our experienced team will sit down with you and develop your business plan to establish the financial needs of your new business. Together will consider the sources of finance which typically include;
- Your own money.
- Bank loans and overdrafts and hire purchase and leasing.
- Outside funds in return for equity in your company.
We will guarantee anyone setting up in business not only to do all the necessary registration work with them and company formations etc. but not to leave them alone in the minefield of getting a business started, but instead to put over 25 years of experience in helping start-ups at your disposal.
We are conscious of the fact that not everyone is where they need to be with their loans. We have responded to client’s needs and potential client’s needs on distressed loans by developing a very good professional relationship with negotiators. The people we use are former bankers who have held senior positions within the banking industry. They not only have good names and work to the highest professional standards but know their way around banking and what will and will not work. They won’t waste their time or your money putting together proposals that are not viable. They, as time is passing are building a pool of other banks that will in certain situations look at ‘taking distressed loans out’ once conditions are right. We don’t completely stand back from these cases. We are actively involved when required in preparing financial statements to facilitate negotiations.
When you go to the bank with a distressed domestic mortgage and agree a compromise deal they are obliged to offer to pay for an hours’ time of independent advice from an accountant to explain the offer. We are on the panel of accountants who provide this service to the public.
In conclusion, we are coming out of recession and as a firm of professional advisors we recognise where the support is needed and will welcome any enquiries and as always our initial consultation is free.