The broker reasoned that such a facility should be used as this particular case involved multiple layers.
An RCF gives the client access to cash when they need it most and works in a similar way to an overdraft, allowing the client access to funds up to a pre-determined limit with interest paid only on what is used.
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In this instance, the RCF provided sufficient funds for Pilot Fish’s client and enabled them to run their business while they focused on the negotiation and implementation of a large, strategic acquisition.
Richard Jones, managing director at Pilot Fish (pictured above, right), said: “Our clients love the flexibility afforded by a RCF.”
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