How a Cyprus Business Turned a Major Expansion Plan into Bank-Ready Financing Options

The client

An established Cyprus company in a specialised, capital-intensive sector was preparing a major expansion requiring substantial bank financing, in the tens of millions of euros. The business had a clear operational plan, but it needed a financial case strong enough to be assessed by several banks at the same time, and built on more than accounting history.

The challenge

The company had a strong operational foundation and a clear growth plan. What it needed was a financing case that banks would take seriously. Expansion of this scale meant approaching lenders with credible projections, a clear view of debt-service capacity, and evidence that management understood exactly how the numbers behind the plan worked.

Rather than approach a single bank, the company decided to put its financing request to several banks at the same time. This was a sensible way to test appetite and secure the best terms, but it raised the bar for the financial case. It had to be robust enough to satisfy multiple credit teams at once, each looking at it critically.

What we did

Velricon acted as the owner's independent financial advisor, preparing the case from the company's side while making it robust enough for lender scrutiny. In practice, that meant helping the owner present the business in the language a bank uses to make its decision.

• Built bank-ready financial projections aligned to how lenders' credit teams actually assess a facility
• Modelled debt-service capacity and repayment capability across realistic scenarios, including downside cases
• Prepared cash flow forecasting that reflected the real operating timing of the business and its expansion, not just historical figures
• Structured the financing case and supporting analysis so the numbers told one coherent, defensible story a lender could rely on
• Answered the banks' questions directly when we were called into the review to defend the numbers under scrutiny

The outcome

Most of the banks approached accepted the report as the basis for their assessment of the financing. The analysis stood up not only on paper but in the room. When one bank's credit team examined the numbers in detail, we were called into the meeting to answer their questions on the spot, from a financial case that had been built to withstand exactly that kind of scrutiny.

One foreign bank required a Big Four report as part of its internal process, due to the specialised nature of the sector. That separate review ultimately reached the same fundamental conclusions as our original analysis, at roughly five times the cost of our work. For the client, it was external validation that the financial case had been prepared to a bank-grade standard, at a fraction of the price.

The same report was subsequently used by a well-known advisory firm as the basis for a valuation of the company. This gave independent validation, by a peer firm, that the underlying analysis was sound.

With credible financing proposals now on the table, the owner is taking the time to assess the options and choose the path that best fits the future of the business. The financing case did its job: it turned an expansion plan into real, actionable choices.

Why it mattered

The difference was never the underlying business. It was how the financial case was prepared. When a lender is assessing a large facility, it needs to see debt-service capacity, realistic projections, and management that understands its own numbers. Structured, senior-led preparation for bank financing turned a complex, multi-bank financing ask into a set of credible proposals the owner could choose between, prepared independently on the client's side and to a standard the banks could rely on.