Investment & Fund Management
supported by the European Investment
Full Credential Description
Cullen Language Services, a language school based in Lyon, France, faced significant challenges due to rapid growth and cash flow issues. The company, which specializes in teaching professional English to corporate clients, experienced an increase in training hours from 20,000 to 30,000 per year over three years. This growth, while positive, strained their working capital as they often faced delays in receiving payments, sometimes up to 12 months, due to complex processes and bureaucracy.
To address these financial challenges, Cullen Language Services secured a loan through SIAGI, supported by the European Investment Fund (EIF) under the EUs Investment Plan for Europe. This financial assistance was crucial for the company, as CEO John Cullen noted that without the loan, they would have had to make painful staff cuts or seek alternative solutions, diverting their focus from business development.
With the cash flow issues resolved, Cullen Language Services is now concentrating on managing and consolidating its growth while preparing for anticipated changes in sector regulations. The tailored financial solution provided by the EIF allowed the company to stabilize its operations and continue its trajectory of growth in the competitive language education market.