Independent Business Finance Brokers
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Company Voluntary Arrangement
Company Voluntary Arrangement
What Is
a Company Voluntary Arrangement?
A CVA known as a Company voluntary arrangement, could be the solution for a company suffering from a short-term cash flow problem. It enables an insolvent practitioner to meet an agreement with its creditors to stop or delay any compromising actions against the company.
In most cases creditors will agree to a CVA, especially if the company will return to a better financial state particularly if the only option is the alternative being company liquidation.
How Can
I Arrange a CVA?
A CVA will need the assistance of an insolvency practitioner, they will act as a nominee during a CVA process. Their job will be to prepare and invite creditors to consider a proposal. It is the creditors that can renegotiate, approve or reject the proposal.
Providing the creditors are happy with the appointed insolvency practitioner, the insolvency company will instigate and implement the agreed CVA. The nominee will also receive and distribute payments to creditors as well as being responsible for implementing the agreed terms of the proposal.
Why Do I Need
Tax Problems?
The control of the company will remain that of the existing management and directors. So, it is our job at Tax Problems to listen to you and provide free support to whether a CVA is the best or only option to your company. Before appointing an insolvency practitioner, consult with us first to find out all of your options. This is a completely free service, should you decide a CVA is for your company, upon request we can supply details of best suited insolvency practitioners.
Free advice on: 01903 660091 / 0800 622 6096
Asset finance is a type of lending that enables you to access business assets such as equipment, machinery and vehicles without having to buy them upfront. It can also allow you to release cash from the value in assets you already own or use your existing assets as security against a business loan from an asset finance lender.
Business asset finance is typically attractive to businesses who want to put their growth plans into action but don’t necessarily have the ready cash, or business owners who would rather spread large costs over a longer period.
Short-term asset finance also enables businesses to remain competitive by making it easier for them to access the latest technology. Asset finance is a broad category that relates to valuable items in your business.
Here is one of our case studies of asset-based invoice finance –
Case Study - Feb - 2019
Invoice factoring for Essex based building company
This company had been awarded a large value contract with a London borough council to install new kitchens and bathrooms into their residential council properties. With limited funds in the bank to cover the cost of labour and materials, Grow Funding arranged a suitable Invoice factoring facility to allow the business to release cash tied up in their outstanding invoices. This means going forward at the point of them giving the invoice to the council they can factor the invoice to provide them with cash in the bank to cover their cash flow needs. An initial facility size of £165,000 was set up with view to this growing over time.
The Advantages:
• Credit insurance to protect you against bad debtors
• The funds are secured and valued against your assets
• Funds can be used for any business needs
• There is the possibility of being flexible in comparison to loans and overdrafts
Grow Funding ltd - 70 Goring Road - Goring by sea- Worthing - West Sussex - BN12 4AB
01903 660091
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