Our ongoing support service for borrowers, ‘BusinessCare’ is
about prevention – heading off problems before they happen by helping
businesses to navigate the complexities of commercial lending, and
strengthening their ability to deal with lenders if the need arises.
Existing borrowers are under constant scrutiny.
Lending money to a business is not a one-off decision and banks in
particular keep borrowers under constant scrutiny. To avoid losses,
they use numerous systems and procedures to try to identify potential
problems at an early stage. Any potential problems will prompt a bank
to review and re-evaluate its arrangements with a borrower, and may lead
to it taking corrective action.
This is an important subject.
Prevention is better than cure – how we can help
You will benefit from our “inside knowledge” and expertise to help
you avoid problems, strengthen your negotiating position, and retain the
facilities your business needs on fair and reasonable terms.
It is easier for us to keep a watchful eye on things for you, and
safer than leaving it to chance. We can work comfortably with your
Manager, save both of you time, and help to avoid misunderstandings that
can lead to problems and conflict. Things will be much easier and less
stressful for all concerned.
BusinessCare delivers peace of mind, is cost-effective, has no
tie-ins or hidden fees and includes unlimited day-to-day telephone
support. We will tailor the service to your specific needs, so you use
only what you need when you need it.
If I used Renuta to raise finance in the first place, why would I need Business Care?
Business Care is about maintaining your hard-won advantage,
preventing problems and ensuring a more level playing field between you
and your lender. 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 lender might want to introduce different products;
- Their lending policy might change;
- It might try to raise prices and so increase your costs;
- Changes in the fortunes of your business may prompt a renegotiation of some of the agreed borrowing terms.
- Changes in the economy might affect the lender’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.
Will my lender feel threatened if I am using Renuta 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 lender does not need to know of our involvement – we can work effectively behind the scenes as well.
When Renuta is involved, will I lose control over my dealings with my lender?
No. We do not stand in the way of the lender/customer
relationship. We are simply there to support and advise you and to
strengthen your ability to negotiate with them.
What support will I get with Business Care 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 while maintaining flexibility.
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 month’s notice to stop using the service.
Do you advise me and leave me to deal with the lender?
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.
