Consultancy

Borrowers and non-borrowers can benefit from our consultancy services, which range from helping with lending-related problems, to help with account opening, and tenders for businesses with high money transmission costs.

This is because we spent many years working in commercial banks and actually lending money to businesses of all sizes. Therefore, we understand how lenders think, how they work, and how they make decisions. This means we can influence those decisions to arrive at fairer and more workable solutions than might otherwise be the case.

Learn more with our Consultancy for Borrowers and Non-Borrowers FAQs

Services for existing borrowers:

For existing borrowers our service is geared around solving problems, where we have the ‘inside knowledge’ and practical experience that can really help.

Every situation is different, so we will engage in a way that makes you feel most comfortable. We can provide either behind the scenes advice, or hands-on support – whichever you prefer.

Arranging government-backed business support loans at times of national stress – such as during the 2008 Credit Crunch. These type of loans are only available where lenders consider the applicant to be commercially viable, so when applying it is vital that borrowers put forward a supportable proposition. The trouble is they are ‘riding a one horse race’ because they have only their existing lender to rely on for support. In these situations our technical knowledge and past lending experience can make the difference between success and failure.
Helping borrowers in difficulty. When borrowers have breached lending terms, missed loan repayments, or are having cash flow issues, lenders are usually anxious to renegotiate the terms of their support. In the process they try to improve their own position by requiring measures that can be counter-productive (such as reducing financing limits, requiring new conditions or covenants, or even more security). Our lending expertise means we are ideally placed to help borrowers to negotiate fair, balanced and workable solutions with lenders, so that they can carry on trading.
Renegotiating existing borrowings. Growing businesses will at some point need to renegotiate their existing borrowing terms. As they grow and change, the type of finance they use might become unsuitable; the amount borrowed might be insufficient; the repayment term may need adjusting; or the business may even be in danger of breaching some underlying conditions or covenants. In these situations we can add real value: not only can we handle many different types of finance but we also understand how commercial lending works; so we can assess your situation objectively and work with you and your lender to help find a fair and workable solution.
Problems following a change of Manager. Relationship problems are common when a change of lending manager occurs. In our experience, when tackled quickly and handled sensitively, they can be resolved without things getting out of hand.
Supporting borrowers who have been transferred to a ‘Special Measures’ department (sometimes called ‘Business Support’). In such cases the risk is that the incumbent lender adopts a short-term agenda aimed at reducing their risk as quickly as possible, which in the process creates even more problems for the borrower. For example: imposed cuts in existing borrowing limits, imposed price rises, or demands for extra security as a prerequisite for the lender’s continued support. Experience tells us that if the communication is properly managed , and a sensible plan is put in place, then lenders can be persuaded to take a more lenient and practical approach. When they do not, a refinance with another lender is another option, which we can also deal with if necessary.

Services for non-borrowers:

There are many ways we can assist non-borrowers – for example:

Help with opening (or preventing the closure of) bank accounts
Tenders for businesses with high banking and money transmission costs
General support & advice for business owners and directors

Difficulties with opening (or preventing the closure of) bank accounts is an unfortunate by-product of the new compliance regulations that banks have to observe nowadays. We have the background knowledge and contacts to assist in this tricky area.

Having worked with numerous businesses for over 40 years, we are well placed to provide general business advice to assist with matters such as business planning, or problem solving. This is a very flexible and cost-effective optional add-on to our BusinessCare service.

Some businesses have high bank charges, arising from money transmission costs, debit/credit card charges, or currency exchange. We can assist by reviewing such costs and working with you to reduce them, or source an alternative provider.

Consultancy FAQs

Are your services only relevant to businesses that borrow from banks?

No. Our services are equally beneficial to businesses, regardless of the lender – be it one of the ‘challenger bank’, or from one of the many specialist or independent lenders. The important thing is that we understand how business lending decisions are made, and how to resolve most lending-related problems.

Will my lender feel threatened if I turn to IBC for help?

No. When there are problems, lenders are keen to get them resolved. IBC are trained lenders so they give us a better reception because they realise we understand their issues and concerns, without which it would be difficult to find a solution that is acceptable to all.

Can you effectively do anything if a Lending Manager has concerns about a business customer?

Yes, often there is. Managers are only human, so they can get things wrong. As experienced lenders, we can assess the situation, discuss problems objectively and correct any misunderstandings. Our involvement could help avoid unnecessary demands for repayment, or even legal action by the bank.

What can you do to help if I don’t get on with my Lending Manager?

Irreparable personality clashes do happen. The chances are that we will have contacts higher up in your lender’s chain of command and will be able to arrange a replacement if necessary. While lenders sometimes tend to shy away from doing that, we find that they will be flexible if we can show it is in the best interests of both parties. If the problem is unsurmountable, we can always move you to another lender.

What can you do if the lender wants to change my borrowing terms?

As trained lenders, we can help you negotiate a fair outcome. It may be that the lender’s proposed changes are unjustifiable, there may have been a mistake, or we may be able to see a better way of dealing with something. Unlike dealing one-on-one with a customer, lenders tend to tread more carefully when a third party is involved.

How much does IBC’s help cost?

It depends on what you need. To keep things simple, we usually work to an agreed hourly rate and set caps on costs, thereby allowing you to stay in control. In some instances, we can consider fixed fees.

Testimonials

It was comforting to have the team from IBC in our corner. They were able to bring negotiators to the table that we would not have been able to reach or attract on our own.

Supplier of audio-visual products and services

IBC’s straightforward professionalism was reassuring from our first meeting with them. From then onwards, sound advice backed up by hard work, diligence and attention to detail has meant that they have become an integral part of our trusted team of advisers.

R.D. Director, Property Company

We were delighted with the help that IBC provided at a very stressful time for us, which provided the results we needed and saved us from lots of work which may not have been as fruitful as their endeavours.

F.D. FTSE listed healthcare business

The Consultancy and business advice provided by Independent Banking Consultants was invaluable to us when applying for a SME business growth grant. He helped with our business plan to enable the application to be accepted, approved and granted very quickly.

David Carr Director, Bewdley Brewery

Do feel free to pass on my details to any prospective client in the future: I can assure you that my recommendation will be as unqualified as the thoroughly professional service and support you have provided.

D.O. Managing Director, Recycling company

IBC are worth their weight in gold, providing a range of financial and consulting services to us over many years: arranging our invoice finance when we needed it; latterly, acting as general advisors to the CEO. I liked having the flexibility to vary what IBC did for us to suit our changing requirements: as we have evolved, so did their services to us.

Alex Moody CEO, Executive Interviews Ltd