Acacia Associates is a building surveying company working for a diverse group of private and commercial clients. Find out why Acacia came to us to help raise funding during the COVID crisis.
Established in 2014 by Mark Harvey, Acacia Associates is a building surveying company working for a diverse group of private and commercial clients including homebuyers, insurers and housing developers. Its projects cover residential, commercial, industrial, education, leisure and insurance sectors.
In April, COVID-19 brought the property market to a standstill which had an immediate impact on Acacia’s building surveyor operations and cashflow. As construction sites closed due to social distancing, Acacia was unable to achieve a contractual milestone. Subsequently, a milestone payment was delayed preventing essential cashflow into the business.
Getting a deep understanding of this building surveying business as well as the financial impact in a short space of time was essential for a speedy outcome. We engaged with Acacia’s owners and condensed a lot of management information into a concise lender presentation pack.
Presenting an accurate financial forecast to Acacia’s lender was critical to a successful outcome. We built a 24-month financial model to ensure the lender had all the essential information to make a funding decision.
To allow Acacia’s owners to focus on running the business, we engaged directly with the primary lender and chased critical timelines to ensure an efficient workflow.
Through our support, the Royal Bank of Scotland approved an undisclosed loan allowing Acacia to continue with its contractual obligations, achieve key milestones and return its trading to a near normal level.
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