Case Study

Securing Bank Funding

A growing marketing company, in need of bank funding to help expand the workforce and acquire larger offices.

About the client

Einstein Marketer Limited is a digital marketing agency based in Kent and founded by Mat Wilson in 2017. The organisation has a mix of experienced marketing, sales and admin staff.

Key Challenges

Einstein Marketer Limited was looking to take on larger clients and projects in excess of £50k and with a 60-90 days payment period. This required the client to pay the subcontractor and other associated costs upfront. This posed a cash flow issue.

The client faced three questions:

  • Which is the most suitable form of financing: an overdraft facility or a bank loan?
  • How to go about applying for it?
  • How to plug the cash shortfall?
person sitting on chair holding iPad

Solution Implemented

Drawing from the expertise of the accountants at Pennyhills®️, we knew that lenders like banks and other financial institutes need:

  • Statutory accounts
  • Management accounts

This allows the bank to evaluate how much a company can afford to borrow and the risk associated with the loan and the overdraft.

As a solution, we prepared periodic management accounts for Einstein Marketer Limited with variance analysis against budget, cash flow forecast, and written commentary to accompany the accounts on a monthly basis.

Final Outcome

We were successfully able to help Einstein Marketer Limited apply and receive a £50k unsecured loan at a favourable rate. This allowed them to take on bigger projects and grow their business.

I have been using Sacheen and the team at Pennyhills for years now and cannot falter them. Highly recommend.

Photo of
Mat Wilson
Director of Einstein Marketer Limited