Newcastle, England - Cross media production group Dene Films announced today that it had successfully concluded negotiations with The Royal Bank of Scotland (RBS) for a new finance facility covering the working capital requirement for Dene's next stage of expansion. The deal was facilitated by Pembridge Partner Rose Lewis.
Determined to get the funding and the right banking partner on board, Dene Films called in Rose Lewis from Pembridge. She worked with the management team to explore new banking relationships and to help them tell their "good news" story more strongly. The strategy worked and, within three weeks, the £600,000 deal was signed with RBS.
"A lot of businesses don't have the hard core skills to understand what money could do for their business and how to communicate to the bank. And the banks are looking for reassurance," says Rose. "Lenders have tightened their belts over the last few months but we were aware that, if presented with the right business case, banks are willing to lend.”
“Building on our strong personal relationships, and by bridging the gap between a business whose culture is naturally creative and a banking sector that needs a robust business proposition, we approached RBS and within 15 weeks they were able to secure sign-off for funding. We have been delighted with the commitment and hard work David Moon and his team have shown."
The funding has been provided by RBS using the Enterprise Finance Guarantee (EFG) Scheme, the government backed scheme designed to provide businesses with the working capital or investment finance they need.
An extended version of this story was featured in the Daily Telegraph.
Thinking of securing finance your business? If you would like to explore what might be involved in selling your
business, please contact Paula Pattriti at Pembridge, who would be happy to talk through the process with you.
Comments