What matters most
- Cash flow first
- Repayments should match how and when the business actually generates cash.
- Covenants
- Headroom matters. Tight covenants can turn a slow quarter into a lender problem.
- Security and guarantees
- What is being pledged, and by whom, deserves as much attention as the interest rate.
- Lender relationships
- A lender who understands the business is worth more in a difficult year than a slightly lower margin.
Where it goes wrong
- Starting too close to maturity and running out of time to negotiate.
- Comparing offers on interest rate alone.
- Treating the lender as an adversary rather than a long-term counterparty.
How Jaron helps
Reviewing existing facilities and what the business needs from them
Preparing the case for lenders
Approaching and comparing lenders
Negotiating terms, covenants and security through to drawdown
Other situations
- Selling a businessTiming, preparation and choosing a buyer who will complete.
- Buying a businessChoosing the right target, holding price discipline and planning for day one.
- Raising capitalThe right capital, on the right terms, from the right people.
- Partners and joint venturesBringing in a partner on terms that still work when things get difficult.
- SuccessionPlanning an owner's exit on their own terms.
Engagements are by introduction.
How introductions work