We launched Navigate Commercial Finance at a time when SME’s were experiencing unprecedented challenges, with many fending for themselves whilst exploring the ever changing funding market.
Our vision was to be visible, get out into the business community, and help advisors and management teams navigate through the maze of business finance.
So we set off…
And had a fantastic first year, having seen around £100m of funding enquires from invoice finance, cashflow loans, recovery loans, revolving credit facilities, asset finance, trade finance, property finance, and more.
We secured finance for 35 businesses across a wide variety of sectors including manufacturing, wholesale, construction, transport, and recruitment, enabling them to kick on by supporting their plans. This is a fantastic achievement and we couldn’t have done it without the supportive and pragmatic lenders who backed those businesses.
Lastly, a huge thank you to the professional community who trust us to do what’s right for their clients. From accountants, to funders, to corporate finance, and restructuring professionals, to other brokers, we have built and maintained some fantastic professional relationships. We look forward to continuing to work with you and your clients across the UK over the coming months and years.
There are strong headwinds to contend with so it’s important that businesses have the right blend of finance wrapped around them. One thing’s for sure, our team will remain laser focused to deliver the right funding solutions.
Paul Varley
Managing Director
What’s in store for our second year?
Businesses continue to grapple with inflationary pressures and now there is the additional challenge of minimal or negative economic growth. This will no doubt increase cash pressures for many companies across an array of sectors. However, it is important to note, there are a variety of alternative lenders with an appetite to support businesses through stressed periods.
As mentioned in our February newsletter, with the end of CBILS and RLS loans, we anticipated an increasing need for working capital solutions such as Invoice Discounting and this has proven to be the case. Invoice Finance is a great way of injecting cash into a business rather than wait up to 90 days for payment. We also expect RLS 3.0 to be launched in the coming months, which should provide further support to business who are looking to kick on, or need a capital injection (so keep an eye out for updates in the weeks and months ahead). For many lenders however, it’s back to business as usual. Our tip for improving either your clients, or your chances of a positive credit underwrite, is a good set of forecasts demonstrating a degree of revenue certainty.
As well as the challenges faced from tougher economic conditions, clients are also coming across opportunities following an increase in activity in the accelerated merger and acquisition market, be it the chance to acquire a distressed competitor, or a struggling company that may offer good synergies.
We work with a wide range of lenders that provide the required funding to support these types of transactions, and are comfortable delivering within the tight timeframes. At Navigate we also have the added benefit of being able to draw upon our own experiences of operating in the restructuring and distressed space, and are therefore able to provide the necessary guidance to both clients and lenders alike.
In Focus
Navigate were introduced to a wholesale business by a funder to review their seven figure Invoice Finance facility.
Prior to Navigate’s involvement, the wholesaler had received an offer from a high street bank and looked set to confirm terms. Navigate met with the business and within 48 hours provided comparative terms from a specialist funder who offered a 25% greater funding limit, improved bad debt protection limits, and potential annual savings of 38% over the high street banks proposal.
The additional funding limit provides headroom for growth, the improved insurance limits provides added piece of mind during these uncertain times, and in a period where inflation is high, supply chain and energy costs are soaring, it’s great to be able to save a business a significant amount of money that ultimately drops onto their bottom line.
If you or any of your clients use Invoice Finance, when was the last time the facility was reviewed by a third party specialist? Navigate would be only too happy to undertake this process.
Recruitment
To help with our continued growth, we are looking for a pragmatic, lateral thinking individual to join the Navigate team in a sales capacity.
If you’re passionate about supporting businesses, enjoy variety, and building relationships, all whilst having a bit of fun, or if you can recommend a suitable candidate, please get in contact: letstalk@navigatecf.com.
Follow Us
We have been busy increasing our content on LinkedIn and have also launched on Twitter posting sector news, deal updates, etc. so if you don’t already, please take a moment to follow us so we can brighten up your news feeds! Also, let us know what you would like to hear more of.
Contact Us
Should you wish to talk through the contents of this newsletter, or should you have a client that wants to understand what funding solutions are available to them, please contact
Paul Varley on 07421 145 704 or email letstalk@navigatecf.co.uk.