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Lock Finance were introduced to a metal fabrication business who were still growing but constantly hitting the limit of their overdraft facility with their bank.
As with many privately owned businesses the family home had been leveraged to the maximum in support of this growth previously.
There were no further assets for the bank to lend against and GST and PAYE arrears meant there were credit restrictions on how far the bank could help their customer.
Meanwhile this business also had some construction customers which meant there were retentions involved, collectable in a years time, further hampering cash flow...