Innovative financing for an Accountant’s start-up

We were instrumental in supporting the establishment of the practice – this case study tells the story of the critical importance of truly understanding a business and its needs.

Challenge

An experienced accountant, Dave McIver, was ready to branch out on his own, but he was faced with the challenge of securing financial backing to acquire the client base he had grown while working at his previous firm.

Because of the nature of the business, purchasing the client base was crucial to the success of Dave’s new venture, but the upfront cost was proving to be a significant barrier.

Solution

After previously working with Braemar Finance, Dave approached Ed Dhenin, Area Sales Manager for the North West, to find a suitable funding solution that would protect his cash flow.

At Braemar Finance, we pride ourselves on tailor-made financial solutions. We make lending decisions based on a comprehensive view of the business’s health and plans. The unique nature of the deal meant Ed had to work especially closely with Dave to develop a custom application that suited the specific needs of a new start Accountancy practice.

By understanding the complete picture, Ed could address any concerns and explain the situation to the in-house team of underwriters. This approach resulted in a well-informed decision-making process that aligned with both Dave’s interests and Braemar Finances standards.

Ed proposed a tailored financial solution consisting of a £60K Personal Loan spread over an 84-month term. This extended period allowed Dave to manage repayments sustainably while focusing on growing the new business.

Result

The tailored funding solution not only meant Dave could secure their client base, but also demonstrated our commitment to supporting the Professions. The success of working together highlighted the importance of flexibility of funding partners.

Ed Dhenin commented: “It’s been a pleasure to work on this deal and support the new business venture. I look forward to working more with Dave in the future.”

Dave McIver added: “Braemar Finance not only made this transition possible but also seamless. I’m grateful for their support and commitment to my business’s future.”

Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.