A new client to First Point Group wanted to purchase the business he worked for as a Manager (Management Buy Out)
No physical property was available as security.
For the client to qualify for the loan required the Lender needed to rely upon forecast income
Working closely with the Accountant to produce a detailed 3 way forecast, and demonstrating the other strengths of the client, First Point Group was able to place this transaction in the market successfully by understanding the business & selling a good story about the Directors’ abilities to run and manage the business. The loan was secured against Directors’ guarantees and a Charge over the Business purchased via a General Securities Agreement.
A very satisfied new owner who was previously an employee!