Approaching Banks and Other Funders for Tourism Businesses
This webinar was delivered as part of Tourism NI's Tourism Enterprise Development (TED) Programme by PKF-FPM.
During this session the following areas were discussed:
Essentials for presentation to the bank to include: • The COVID-19 impact on your business and mitigating actions taken to date • Detailed cashflow with realistic assumptions • Clear ask – how much, what format and for how long • Evidence of repayment capacity
Overview of alternative sources of finance including: • Utilising your existing assets – cash advances on your debtors (invoice discounting); raising finance on unencumbered fixed assets (asset finance); selling on surplus stock at a reduced price etc. • Other sources of finance if mainstream not available – pros and cons.
This session was open to any businesses within the NI tourism and hospitality industry.
If you missed it you can view our Approaching Banks and Other Funders for Tourism Businesses Webinar below.