Making A Difference
It’s always nice to feel like you’re making a difference, and working in finance is no exception.
While we enjoy helping all of our customers, it’s particularly nice to feel like you’re helping to
facilitate innovation.
Recently, we had the pleasure of helping a customer who was looking to fund research into a
new product they were bringing to market. The company was already a successful venture who
brought new products to the market on a regular basis.
For their latest idea, they needed funds to take them from research and development to
marketing the finished product.
Of course, when you’re creating a new product like this, you don’t want to spend your time
worrying about money. That’s the beauty of using a broker like us – we do the worrying for you.
This case was taken up by our youngest (but by no means least experienced) broker, Harry,
who got to work finding them the perfect solution, while the client was busy progressing their
idea.
Harry recognised that one of the most important elements of this deal was the speed with which
the customer could receive their funding, in order to continue with their work.
He searched our panel of funders to find the best product to suit the client, and the best funder
to provide it. He assessed the client’s needs and managed to find a loan of almost £22,000 with
a leading lender.
What’s more, by using a broker, not only did the customer save time, but they also got the best
rates on the market; rates that are unavailable to the average person.
After rigorous testing, the product is now revolutionising it’s industry!
If you are wasting precious hours trying to seek out your own funds, why not give us a call and
let us do what we do best, so that you can get back to doing what you do best.
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applying for finance in any form
When you consider the potential pitfalls of applying for finance in any form, concerns usually lie
somewhere within the realms of your financial status. Whether it’s bad credit or blunders made
when you were young and naive; complicated circumstances or difficulties outside of your
control.
While it’s true that these issues can stall, or, in extreme cases, even put an end to finance
applications, customers can often overlook the aspects of their day-to-day lives that can have
just as big an impact on their application.
Our senior broker, Phil, was recently assigned a customer who was looking for a loan of
£50,000 for their recruitment company. Throughout its lifetime, the company had gone from
strength to strength, and the customer was now looking to make the most of their success by
expanding into additional areas of their field.
As you can imagine, due to their strength as a successful, financially stable, company, the
customer’s loan application was quickly approved without issue. This was great news for all
involved, and Phil was excited about helping his customer reach their expansion goals.
However, when the case was passed on to the funder’s Know Your Customer team, the deal hit
a snag.
Recently, the client had moved house. While you wouldn’t expect this to have any bearing on
their finance application, it had complicated the process of proving the customer’s address.
This, in turn, made it difficult to prove the customer’s ID.
These minor complications had suddenly halted the deal and meant that Phil had to work a lot
harder to get what should have been a pretty simple deal over the line.
Of course, being the pro that he is, Phil went above and beyond, and eventually got his client
their money. However, this case serves as a warning that being financially stable does not
necessarily guarantee that you will get the facility you are looking for.
Luckily, have a vast and varied wealth of experience with all sorts of customers and situations.
They specialise in sinking their teeth into the more complicated deals that other brokers would
not attempt.
If you are looking for finance, but are concerned that your circumstances are too difficult, please
don’t hesitate to call us. We will talk you through every step of the process, and will go above
and beyond to get you what you’re looking for.
An Ideal World
In an ideal world, everybody would be honest and trustworthy, however, unfortunately, the world
we live in is less than ideal. The following is a cautionary tale about why you should always look
into your options, especially when it comes to those who handle your money.
A little while ago, our MD, Steve, was approached by a customer with a successful security firm.
The company had been making a £1.5M turnover, and was going from strength to strength.
However, after taking out a facility with a big name bank, they faced a massive £80 – 90k annual
charge. They had been with said bank for 12 years, and the charge had understandably marred
their success. What’s more, the bank allowed them to believe that this was non-negotiable, so
the company felt trapped in their unfortunate situation.
Luckily, Steve knew better, and got to work, finding a solution.
In this case, that meant placing the customer with a new funder, who was able to bring the
charge all the way down to £35 – 40k per year. Reluctantly, the bank admitted that Steve’s
proposal was correct, and offered to match this figure.
The moral of the story, here, is that you don’t always have to accept what is offered to you by
your bank. Have a chat with us about your situation, and we’ll ensure you’re getting nothing but
the best!
Find The Ideal Fit For Our Clients
As a team, we’ve pretty much seen it all, but that doesn’t mean we don’t still get the odd deal
that spices things up a bit.
Recently, one of our brokers, Mark, took on a client who wanted to purchase a new ride for their
fun fair. That’s not something we come across every day!
Although the customer needed over £50,000, they already owned another fair ride, and was
happy to use that as security for their loan.
Of course, Mark was more than happy to take this on, but there were 2 problems. Firstly, the
customer was based in Northern Ireland, and secondly, well, they wanted to use a fairground
ride as security!
While we strive to help as many potential customers as possible, funders can be very cautious.
This is something the client was already aware of, having tried to source their own funds,
without success.
As such, Mark had to work extra hard to find the ideal fit for his client. Luckily, we have a broad
and varied panel of lenders at our disposal, and tenacious brokers to boot.
We’re pleased to say Mark was able to find a funder who ticked all of the right boxes, while also
providing an excellent facility at a rate the client was happy with.
If you’re looking for a facility, but are concerned that any aspect of your situation may get in your
way, please don’t hesitate to get in touch with us. We specialise in businesses with tricky
circumstances, and have a wide variety of funders at our disposal. So whether you have an
interesting asset, or an unusual address, we will do everything in our power to find you the
funds that you need.
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