Supporting Borrowers FAQ
These are the most frequently asked questions about our BusinessCare service
1) If I used IBC to raise finance in the first place, why would I need BusinessCare?
BusinessCare is about maintaining your hard-won advantage, preventing problems and ensuring a more level playing field between you and the bank. Your borrowing facilities might be in place for several years and a lot can happen during that time, leading to changes in the initial arrangements:
- The Lending Manager might change;
- Continuation of certain facilities might be subject to an annual review;
- The bank might want to introduce different products;
- The bank’s lending policy might change;
- It might try to increase your costs;
- Changes in the fortunes of your business may lead the bank to try to change some of the agreed borrowing terms.
- Changes in the economy might affect the bank’s ability to lend, even to existing customers.
Many borrowers have found it reassuring to have our expert help and advice on hand for just such eventualities.
2) Will my bank feel threatened if I am using IBC for ongoing advice and support?
No. We have never known a problem in this area. Our banking backgrounds mean they see us as lenders – just like them – so appreciate our involvement. We help clients to avoid common mistakes, so there are fewer problems, which saves lenders time and effort.
However, if you prefer, the bank does not need to know of our involvement – we can work effectively behind the scenes as well.
3) When IBC is involved, will I lose control over my dealings with the bank?
No. We do not stand in the way of the bank/customer relationship. We are simply there to support and advise you and to strengthen your ability to negotiate with the bank.
4) What support will I get with BusinessCare and how much will it cost?
The level of support depends on your requirements. Each package is bespoke, so you will only pay for what you need – in one simple fixed monthly fee. There is also a ‘pay as you go’ option to cater for any unforeseen eventualities. This arrangement works well and puts you in control whilst maintaining flexibility.
5) Can I change my mind after signing up to BusinessCare?
Yes. If you want us to do more for you – or less – this can easily be arranged. There are no extended tie-ins: all we ask is that you agree to give us one months’ notice to stop using the service.
6) Do you advise me and leave me to deal with the bank?
We can be flexible. We can advise you and let you handle the discussions; or we can lead the discussions ourselves – with or without your involvement. The choice is yours.