Mobile financial services eServGlobal expects its first-half revenues to be lower than same time last year, which led the group to agree on a loan of £5m to cut costs.The company forecasts revenues to be down 21% to £6.8m, which is in line with previously full-year expectations. Project backlog rose 59% to £3.7m.Furthermore, eServGlobal said it has entered into an agreement for a loan of £5m in order to cut costs of legal entities, workforce and offices, which should generate annualised cost savings of £1.5m.The loan, provided by the Alphagen Volantis Fund and the Alphagen Volantis Catalyst Fund, will also support working capital requirement of a project delivery schedule during the second half which is higher than previous years.Executive chairman John Conoley said the company's focus during the second half is on project delivery after completing a satisfactory performance during the first six months."The recent theme for the core business has been to review how we do things and to take cost reduction opportunities as they arise."We believe there is an opportunity for some EBITDA upside within the current year, potentially balanced by the risk of second half project delivery execution," Conoley said.Shares fell 4.11% to 17.5p on Thursday at 11:34.