Weatherguard had been expanding its reach throughout the Lower Mainland, and was experiencing a period of significant growth due to its strong reputation. They approached their bank and explained the nature and value of their incoming business, hoping to secure additional working capital capacity. The bank was reluctant to provide the necessary facilities due to their understanding of the client’s accounts receivables, particularly the progress draw structure of many accounts. A second lender was also approached with similar results.

Weatherguard’s accountant recommended Ashdown’s services, recognizing our ability to advocate for our clients in terms that the banks can accommodate. We set about developing a thorough understanding of the business’ strengths, including a highly motivated and capable ownership team, and also how their contracts were structured with regards to progress draws. We repackaged the application to highlight Weatherguard’s growth along with the strength of the management team, and a better understanding of how their progress draws were contractually structured.

We sought proposals from additional lenders, subsequently receiving competitive bids from multiple banks including their incumbent bank. The offers provided amounts larger than originally requested at improved rates. Weatherguard now benefits from flexible working capital, and can focus on the growth of the business.

“I was introduced to David and his team by our accounting firm. Before that I had spent the better part of a year renegotiating financing for our business with multiple banks and had no success. David not only attained the new financing our business needed, he saved me a tremendous amount of time and money. I would highly recommend David and Ashdown Capital to any business.” – Steven Wall, CEO, Weatherguard Group

• Line of credit
• Real estate loan