That is they looked at the debtors and their ability to recover their advance should their client fail. The Balance Sheet and profits we less of an issue. This approach created a very successful business both for the shareholders and for their clients who were able to grow their businesses on the back of sound decisions.
A year later the old senior management have left and have been replaced by a team who look at proposals from a Banking point of view. They focus on the Balance Sheet, gearing rather than on the sales ledger where their security is based.
Whilst you cannot criticise such a way of looking at lending, because it is their money and they are entitled to look at proposals in any way they like it may be not such good news for existing clients or new prospects.
So in a short period of time your business can be viewed in a completely different way though you business may not have changed at all. This is not good news as your current facility could be reviewed in a way that may not help your business moving forward.
Findmeafactor have many relationships that will welcome looking at businesses that are facing a change in the way their facility is being viewed.