Facing challenges

We appreciate that business does not always run smoothly and all companies face challenges from time to time. Not all financial institutions have the same attitude to these challenges but at First Trust Bank we are open to talking to all customers to find the best solution for all stakeholders.


Talk to us as we are fully committed to working with you to provide support and advice.

Step 1: Communication - talk to us

 

Early contact is vital to ensure the range of financing options remains widest. It is important to commence discussions as soon as possible so that we can explore appropriate solutions suitable to your business.

 

 

Step 2: Financial information - Understanding your finances

 

The type of financial information required by the Bank to make an assessment for an arrangement will typically include the following:

  • --------------------Start of Accordion---------------------------

    What documentation do we require?

    1.

    Financial information/projections

     

     
    • Latest Audited/Certified Accounts as appropriate
    • Income and Expenditure statement/Trading Profit and Loss Account and Balance Sheet
    • Up to date management accounts and cashflow statements to reflect the current trading period
    • Up to date aged list of debtors/creditors
    • Financial and cashflow projections and underlying assumptions (including any evidence of agreed orders/contracts).
     
    2.

    Details of current tax position (Tax Certificate where appropriate).

     

    3.

    Up to date Asset/Liability profile of the business and owners/promoters.

     

    4.

    If required, details of your security position.

      

    --------------------End of Accordion---------------------------

  • --------------------Start of Accordion---------------------------

    Why we need this information

    This information enables us to gain a real insight into how your company:

     

    1) has performed in the past,

    2) is performing currently,

    3) is likely to perform in the future.

     

    Short-term cashflow projections are of particular importance in the current environment.

     

    This will allow us to understand your current tax situation and any arrangements that may be in place with HMRC.

     

    It also allows us to assess the overall financial position of the company and its business owners/promoters including other financial commitments.

     

    You may have provided security across a number of facilities that is relevant to the assessment of your situation.

    --------------------End of Accordion---------------------------

Step 3: Assessment - assessing your financial situation

 

The information you provide will be used to assess your situation and explore various options that best meet the needs of both your business and the Bank. The assessment will take your full circumstances into account.

Throughout the assessment process, we will continue to work constructively with you to develop a long term solution.

 

Step 4: Resolution

 

Once a decision has been agreed with you, we will write to you outlining all, or any, revised terms and applicable fees and charges, which are available to download below.

 

 

Talk to us

 

Simply call 0345 6005 925 or visit your nearest branch. We’ll be happy to answer any questions you might have. 

 

We are here to help you to discuss your financial concerns and issues. It is important to contact us as soon as possible. We will work with you to explore appropriate solutions suitable to your business and the bank.

 

 Lines open: 9am to 5pm Monday - Friday (except on bank holidays). Calls may be recorded. Call charges may vary - refer to your service provider.

Important Information

 

Availability of credit depends upon our assessment of your financial position. We encourage you to take independent legal advice to ensure that you understand your commitment and the possible consequences of your decision.

 

Please note that security and insurance may be required.

--------------------Start of Accordion Container---------------------------

Click on edit button to enter Accordion Header

Help and guidance

 

As part of our support to you, we’ve compiled a list of resources packed with practical information:

  • --------------------Start of Accordion---------------------------

    Tools and guides

    Cashflow planner tool

    A financial and budgetary tool to help manage your business cashflow.

     

    Other tools

    Use our handy range of business tools and calculators designed to help your business.

    --------------------End of Accordion---------------------------

-------------------End of Accordion Container---------------------------

Related Products / Services

3