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Peter Kelly F.Inst.IB

Graduate of the IIB and MD of Pegasus Funding Resources a nationwide organisation specialising in helping companies with cash flow difficulties was approached by a fellow IIB Associate to help one of his clients who had received an order that they could not afford to fulfill.

The order was from the Ministry of Defense. The goods were ready for shipment from China and the MOD was expecting them to arrive without delay. Their original source of funds, their Bank, had let them down and they needed to raise £360,000 and only had a week to raise the funds.

There was no time to arrange the normal round of Bank meetings and credit committee deliberations so a funder needed to be found that would conduct the normal negotiations by phone, fax and email and who was prepared to move quickly. The funds were raised within 5 working days and the only time the management team met the Bank was to sign the actual documents and drawdown of funds took place the next day.

The client was happy and commented: ‘In the present market conditions getting a loan so quickly and in this manner proves the strength and professionalism of Pegasus’s network of contacts'

 

 

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