A Manage Away situation is generally led by the bank but can, on occasion, be led by the directors. All major banks have a business support unit, where the bank decides to employ a more experienced manager to work with the customer to return them to mainstream banking or enable a situation where they can be ‘managed away’. Once the bank has lost confidence in the management of the business then no amount of protest will change the final outcome.

Now Financial Advisory are ‘first-call’ for all of the major banking groups. In each case, we work closely with the bank and the customer, using refinancing strategies to introduce new funding to the business. This helps reduce the bank's exposure to risk and enables either a move back to branch banking or a new start with a new bank without any historic baggage.

The following case study highlights the role Now Financial Advisory can play in this process:

An engineering business badly needed to invest in a new machine to fulfil a new, lucrative contract. Consecutive years of poor performance had caused sufficient concern for the business to be moved to business support. Now Financial Advisory was able to refinance some of the business's existing assets, allowing a large deposit to be placed on the new machine, enabling a leasing company to look favourably on the proposition. With the new machine in place, the company returned to sustained profitability and into branch banking.

To find out more about how we can help your business in a banking manage away situation, call us today on 0870 950 3828 or email info@nowfinancialadvisory.co.uk