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Bank of Ireland launches practical initiative to help Northern Ireland businesses with cash flow
17th June 2009
Bank of Ireland today announced a new package of practical help for Northern Ireland businesses facing the effects of the recession.
Bank of Ireland today announced a new package of practical help for Northern Ireland businesses facing the effects of the recession.
In a move designed to assist small and medium sized enterprises cope with pressures on their cash flow, the bank launched its Working Capital Initiative which offers firms a no-strings-attached free ‘health check’ of their cash flow management by a trained specialist
Michael Kidd, Head of Business Banking at Bank of Ireland Northern Ireland, said: “Working capital and cash flow are the lifeblood of every business. In a recession, effective management of all resources, particularly cash, can be the difference between success and failure.
“We have considerable experience funding SME’s who require their Bank to invest time in listening to their concerns, understanding their market conditions, and providing continued support.
We’ve assembled a team of 17 working capital specialists covering all of Northern Ireland who will make contact with a business within forty eight hours of receiving their meeting request, arranging an appointment to provide a free check of their cash flow and provide practical advice on working capital, including ways to help unlock assets and release cash.”
The bank’s initiative applies to both its own customers and customers of other banks. Businesses that take the opportunity of a cash flow health check are not required to avail of any product.
Mr Kidd said: “Bank of Ireland remains committed to supporting and assisting SME’s through this challenging time given the important contribution this segment makes to the economic health of Northern Ireland”.
Leslie Dalton, Finance Director at Beverage Plastics Ltd. in Lurgan said: “We have recently secured additional working capital finance after having worked closely with one of the Bank’s specialists. The time they took to understand the challenges we face was well spent, as not only did it give us confidence, but enabled us to access increased funding through new products. This ongoing support is vital to our continued success”.
Ends
For further information please contact:
Julie Sherlock Bank of Ireland +44 (0)28 90433520
Audrey Nolan Bank of Ireland +353 (0)86 9176877
Alan Watson SMARTS +44 (0)7768 798148
© Bank of Ireland 2012
