Anyone obtain commercial finance lately

Commercial

Registered User
Messages
223
I am wondering if anyone has or knows of somebody who obtained commercial finance lately?
Where was it sourced, what was the nature of the deal?
 
Yes, but on the back of 150% revenue growth in 2009 and looking like at least 200% revenue growth in 2010. My company is now moderately profitable but costs should drop while major upside to revenue growth (should be more like 500% growth in 2010, I'm just being careful - cost growth is max 10%)
Even at this significant collateral, professionally prepared business plan, etc all required, as well as personal guarantees. They have first option on our outstanding invoices if we fail to meet the repayment schedule.
If that is our experience, in the knowledge that the money came from the EIB fund (i.e. financed from the EU) I can't imagine how it is for the regular SME can fare. I think it is virtually impossible for an SME to get credit at the moment, even if they are sustainable businesses with a long track record