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Getting the Banks to Bid for Your Business

Our rapidly expanding Malaga-based business, Air Cell Insulation, has benefited enormously from McKinley Plowman’s (MP) comprehensive business financial consultancy. Air Cell Insulation, which sells an innovative range of insulation products throughout Australia, New Zealand, the Middle East and South East Asia, has maintained a compound growth rate of more than 40 per cent over a ten year period.

MP finance partner Paul Moran encouraged us to explore alternatives to our traditional source of overdraft finance after we consulted him to discuss our growing needs for working capital. Paul, who has extensive commercial banking experience, suggested setting up a competitive tendering process to invite major lenders to bid for our business.

The beauty of this process was that the onus of accountability was placed on the banks to show us what they can do for us. Three major banks responded to the tendering process and this gave us enormous insight into the sorts of facilities and products available to us. The net result is we now have a more flexible debtor financing facility, we pay a considerably lower interest rate, we have a one-to-one relationship with a commercial manager, our fees are lower and we have far better merchant facilities.

It was fantastic to be able to draw on Paul’s extensive experience to negotiate a better deal for us. Business owners who make use of his financial consultancy services can expect a much-improved outcome for their commercial lending. I highly recommend the services offered by Paul Moran and his finance team.

Scott Gibson, managing director of Air Cell Insulation

written by:

McKinley Plowman