29 Sep It’s not just about Interest Rates

By Deb Purvis

There are many other reasons why RSP are engaged to work with businesses on their finance.  Here are a few key ones to get you thinking…

Property Purchase, Expansion & Diversification

All of these require the support of your lender.  Often, an increase in lending is knocked back because the information provided is not detailed enough.  The story has not been articulated in a way that a lender can visualise and be confident that there is a well thought out plan.  We know how to best position your business to the banks, and we love to “tell the story”.

Relationships

We get many enquiries that are instigated by a deterioration in bank relationships.  Maybe the new manager doesn’t seem the right fit for their business or the service from the lender has reduced or they don’t seem supportive of the future plans for the business.   We bring back the personal relationship to financing and provide ongoing support and regular reviews of the financial needs of the business.

Succession Planning

A succession plan can be complex and often involves lots of external professional advice around tax, legality, and family relationships but at the end of it all – the plan needs to be bankable.  We work with our clients and their professional advisors to ensure that the plan is viable and their lender supports the planned changes.

Complicated Structures & Products

Recently RSP came across a client who had over 30 fixed rate loans and another who had over 90% of their loan fixed in one lump sum for a long period of time.  Banking doesn’t need to be complicated nor does one size fit all.  We can work with a business to ensure that they understand and get the benefits from their lending that are actually useful to their business.