In some circumstances, it may be appropriate to seek loan repayment deferrals from existing lenders. That being said, there is a lot of work to be done to achieve the best chance of a lender agreement.
Ideally, integrated financial forecasts should be prepared, including sensitivity analysis, a detailed short-term cashflow forecast, a review of security available and an ability to show alternative options have been considered and attempted.
If any operational or financial improvements are required, project plans and tracked performance will need to be shared. This will give the lender confidence in your ability to deliver planned improvements.
There is a balance to be struck between the timing of a request and information preparation, and consideration of your relationship with the lender, such as any previous deferral requests.
Our experts will ensure all your information is thoroughly prepared and that alternative options are carefully considered.