News blog
Clarity Commerce Solutions
- BY: Andrew Hore |
- POSTED: 01/02/2008 |
Software supplier Clarity Commerce Solutions has secured finance from one of its shareholders.
Clarity is strapped for cash at the moment and it needs cash for working capital.
It has drawn down £600,000 from Southwind, a trust set up by Bob Morton. If Clarity raises money – as it hopes to do - the loan will be paid back immediately or it will be repayable in one year. The interest rate is 30% a year but if acceptable security is found the interest rate will fall to 10% a year.
Those interest rates show just how hard up Clarity is. Hopefully, the loan will be needed for a short time.
The shares held steady at 26.5p.
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