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Completed Case Studies
Completed Case Studies
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Welcome to our case studies. Here at Grow Funding we often get asked what does our funding get used for? The following are case studies of business loans we have previously supplied.
Case Study Oct 2020
Hampshire based public house
We were given a referral from one of our introducers for a Hampshire based public house, which had to close during lockdown and required ongoing financial support. A number of lenders would decline their application due to the leisure industry noted as “high risk”. However, with our knowledge, and access to, the alternative lender market we were able to arrange a £150,000 Coronavirus Business Interruption Loan Scheme. Our client was extremely happy with the outcome which enables them to continue to trade through these difficult times.
By Mark Ridley
Case Study September 2020
Media company based in Leominster
Media company based in Leominster has been a long term client of Grow Funding. The director contacted us as he had attempted to get a CBILS loan from his bank and another lender but had been turned down. We could see a one main reason why this might have been the case, although the business was well rated on Experian we could see they slightly late filing their accounts. This is something that the Loan market will not accept, and therefore we set about ensuring these were prepared and submitted to companies. Once they had been updated on Experian and other credit refence agency we were then in a position to resubmit the application and the client was extremely pleased when we managed to get a formal loan offer for £100,000.
By Julian Stafford
Case Study Oct 2020
Local construction company based West Sussex
Local construction company based West Sussex was introduced to us by a good accountant contact of ours. The company was looking to raise up to £500,000 via CBILS and we could see based on the strength of the company this would be achievable. Like most construction companies the business had been impacted by COVID 19 and had to shut down their construction sites for a short while. However they have a strong order book and the funding was to be used to assist with cash flow for the forthcoming year. We were successfully able to arrange two separate CBILS loans for £250,000 each totaling £500,000, and the client was extremely pleased with our service.
By Julian Stafford
Case Study - June 2020
Professional lift removal services through the whole of the UK
Case Study - March 2020
We were contacted by a large London based insolvency practitioner to assist their client in arranging a bridging loan even though that client had recently had a business go in to administration. We arranged a £320,000 bridging loan over 18 months secured against the client’s main residence and one of his buy to lets. We often get cases like this where clients have other businesses that have been put in to administration and are turned down by the traditional lenders. Here at Grow Funding we have a wide range of alternative bridging loan providers to prevent this. Also our turnaround times are far quicker than the traditional lenders and therefore if you are struggling to get the funding you need from them, please give us a call.
Case Study - March 2020
Oxfordshire - Tool Manufacturer
Case Study - March 2020
North London based Plant Hire Company
North London based Plant Hire Company was looking to refinance their machinery over longer term as the current Asset finance repayments were becoming too much for the business and effecting cash flow. We decided that an unsecured loan over 5 years would be the best option as it also means that should they wish to they can pay off early with no penalty. We successfully raised £100,000 over 5 years at a very good Interest rate.
Case Study - Jan 2020
West Sussex based pedal and electric bicycle retailer
We were given a referral from one of our introducers for a local pedal and electric bicycle retailer who needed to enhance his cash flow. We established that they took around £100,000 per month on card payments and identified that through Merchant Cash Advance we could secure the funds they needed. We were able to arrange a £65,000 loan, with an option for a £15,000-20,000 top up in the next few months, to be re-paid over an open-ended period from a percentage of their card payments. We began the process with this lender on the 2nd January and funds were paid out by the 10th, which the client was really pleased with.
Case Study - Nov 2019
West Sussex based Building & Electrical Company
We were contacted directly from this local building and electrical company. They had been turned down by the high street and were struggling to find an alternative lender. We arranged a £10,000 loan over 12 months which enabled them to assist with their short term cash flow issues and continue trading with less pressure. We often get cases like this where business owners have been turned down by the high street, here at Grow Funding we have a greater knowledge of the alternative loan providers. Also our turnaround times are far quicker than the banks, therefore if you are struggling to get the funding you need from your bank please give us a call.
Case Study - Sept 2019
Kent - Director of a construction business
Case Study - August 2019
Essex - wheel and tyre fitting company
An existing Essex based client of ours needed some short term cash to cover the cost of importing a container load of allow wheels. We established that they took around £22000 per month on card payments and identified that through Merchant Cash Advance we could secure the funds they needed. We were able to arrange a £28000 loan repaid over an 8 month period from a percentage of their card payments. We are picked up the opportunity on a Monday and funds were paid out by the Friday, which the client was really pleased with.
Case Study - June 2019
West Sussex based Nursery Group
We were contacted by a local Accountant to assist their client in arranging a loan to acquire another Nursery. They had been turned down by their bank and needed to complete on the purchase of the Nursery quickly. We arranged a £30.000 loan over 3 years and the Director was able to complete the purchase on time. We often get cases like this where business owners have been turned down by their bank, here at Grow Funding we have a wide range of alternative loan providers. Also our turnaround times are far quicker than the banks, therefore if you are struggling to get the funding you need from your bank please give us a call.
Case Study - July 2019
Kent based Organic Health Powders
We were contacted by a large London based insolvency practitioner to assist their client in arranging a loan to avoid going in to administration. The financial wing of the insolvency practitioner were unable to help nor were any traditional lenders. We arranged a £55,000 secured loan over 5 years and the Director was able to save his company from administration. We often get cases like this where businesses are close to being been put in to administration and are turned down by the traditional lenders. Here at Grow Funding we have a wide range of alternative loan providers to prevent this. Also our turnaround times are far quicker than the traditional lenders and therefore if you are struggling to get the funding you need from them, please give us a call.
Case Study - June 2019
Secured Loan - Norwich based fulfilment company
Norwich based fulfilment company needed funding for cash flow purposes and capital outlay, following a major new client requiring additional racking and storage space in their warehouse. The company directors had tried a number of providers but were unable to secure the funds they needed. Grow funding were introduced and we identified that a secured loan would be the best option. This type of loan can take a few weeks but we managed to complete it in good time and now the directors have the funds they need.
Case Study - April 2019
Invoice Finance for a Stevenage based Property Maintenance company
We were introduced to a property maintenance company who were recently established and growing quickly. As with many new businesses in this situation the one thing holding them back was lack of cash flow. Having looked at the customers and payment terms Grow Funding felt that an invoice finance solution was the ideal solution. Due to the nature of the work being in the construction industry there are a limited number of providers that will fund this sector. We arranged a suitable provider and assisted the client setting up the facility. The client now has enough cash flow to continue growing the business and take on additional work.
Case Study - April 2019
Grow Funding were introduced to a local company looking for funding. There were two parts to their requirement, first they needed a loan to grow the business and secondly, they needed an invoice finance facility to assist with ongoing cash flow. We were able to arrange an £50,000
unsecured loan and set up a suitable factoring facility. The business now has enough funding to meet their needs.
Case Study - March 2019
Grow funding were appointed by the clients accountant to assist with arranging an unsecured business loan for £100,000
to cover the costs of refurbishing their premises.
We managed to source a £100,000 loan over a 5 year term, with the ability to repay at anytime should they wish to.
Case Study - March 2019
The customer is an existing invoice finance client of Grow funding and following a routine monthly call we established they would be interested in a £40,000
loan to refinance a small existing loan and up date their IT systems and purchase new computers and server. Grow Funding managed to arrange a £40,000 over 5 years and a very good interest rate.
Case Study - Feb - 2019
Invoice factoring for Essex based building company
This company had been awarded a large value contract with a London borough council to install new kitchens and bathrooms into their residential council properties. With limited funds in the bank to cover the cost of labour and materials, Grow Funding arranged a suitable Invoice factoring facility to allow the business to release cash tied up in their outstanding invoices. This means going forward at the point of them giving the invoice to the council they can factor the invoice to provide them with cash in the bank to cover their cash flow needs. An initial facility size of £165000
was set up with view to this growing over time.
Case Study - Jan 2019
Short term business loan for Midlands based car dealer
Grow funding was introduced to a relatively new but successful car dealer selling prestige used cars, they needed additional funding to purchase stock. We arranged an initial loan for £40000
over 12 months in early 2018 and then an additional loan of £20000
over 12 months at the end of 2018. This has allowed the company to meet the high level of demand and the company continues with their success.
Case Study - Dec 2018
Unsecured business loan for Sussex based Industrial door fitting company relocating.
The directors approached Grow Funding looking for finance to enable them to relocate their offices. We arranged a 3 year
£25000
Unsecured business loan to cover removal and refurbishment costs. This particular loan is specifically designed to help businesses that are looking to refurbish their commercial premises called a Refurbishment Loan. If you would like to know more please contact Grow Funding.
Case Study - Dec 2018
The business needed additional funding to enable them to cover the cost of importing several containers full of alloy wheels, including other business expenses. As the company already had unsecured funding elsewhere, we needed to find an alternative solution. The director and shareholders owned a number of properties and were willing to allow a second charge to raise the £75000
over 5 years as a secured business loan.
Case study - Nov 2018
Company type: Commercial Lighting Company
Have you ever wondered who supplies and manufactures our street lighting, or have you been in a restaurant or a working office and seen non-standard lighting panels? If you have it could be one of our client’s systems. As a specialist in design, manufacturing and installing, this company are experts in their industry. They have offices in Basingstoke, supplying to customers nationally. It was a pleasure to provide the business funding they needed to grow their business.
Amount borrowed: £200,000
Repayment term agreed: 5 years
Reason for loan:
Investment into marketing and product development.
Interest rate: With most of our commercial business loans there is a flat rate of interest over the term of the loan. In simple terms, this means the client can calculate the exact interest to be repaid. The client requested an early repayment option, which we managed to accommodate. Then rate of interest we achieved was 8.5% flat. This was an unsecured commercial loan, with no charge on fixed assets. This is an unsecured business which required just a personal guarantee. Also, this client is a home owner which means we could support them for this level of funding. New Paragraph
Case study - Oct 2018
Company type: Drainage Clearance Company
This Brighton drainage clearance company was so busy they needed a cash flow injection, this was easily achieved as they had been trading for 5 years and needed the funds to upgrade their CCTV equipment, buy additional vans and hire more staff. With the investment they received, they were able to expand their business along the south coast, leading to higher turnover and greater profitability.
The amount borrowed: £50.000
Repayment term: 5 years
Interest rate: As the directors were non-home owner the maximum we could arrange on an unsecured basis was £50,000. An excellent flat rate of Interest 9% per annum was agreed with an early repayment loan option.
Case study - Sept 2018
Company type: Transport distribution and Logistics Company
As a large distribution and logistics company offering a complete solution from fulfilment to delivery, the smooth running a fleet of vehicles is essential to their success. Our business finance package provided enough funds to not only buy two 26 tonne vehicles but also allowed them to increase their marketing spend to win new business. Often like this business in Wakefield, existing finance plans are already in place; this was just a simple case of arranging a financial solution that satisfies the original arrangement.
The amount borrowed: £100.000
Repayment term: 5 years
Interest rate: We achieved a low 7.5% flat rate of Interest and we are now discussing how we feel Invoice finance can help them with for some of their larger contracts. Please see our link to learn more about Invoice finance www.growfunding.co.uk
Case study - Sept 2018
Company type: Car and Van Dealer
This company had been trading for many years and had built a loyal returning customer portfolio. Based in Northern island, they continue to have a fantastic family owned reputation.
After running the business for many years, their premises were looking tired, and their equipment was getting old. To keep up with the latest generation of technology they came to us at Grow funding to help put the spark back into the company.
We were more than happy to source them a specialist £50,000
3-year
refurbishment loan to enable them to complete full refurbishment of their service, maintenance and repair department.
Asset finance is a type of lending that enables you to access business assets such as equipment, machinery and vehicles without having to buy them upfront. It can also allow you to release cash from the value in assets you already own or use your existing assets as security against a business loan from an asset finance lender.
Business asset finance is typically attractive to businesses who want to put their growth plans into action but don’t necessarily have the ready cash, or business owners who would rather spread large costs over a longer period.
Short-term asset finance also enables businesses to remain competitive by making it easier for them to access the latest technology. Asset finance is a broad category that relates to valuable items in your business.
Here is one of our case studies of asset-based invoice finance –
Case Study - Feb - 2019
Invoice factoring for Essex based building company
This company had been awarded a large value contract with a London borough council to install new kitchens and bathrooms into their residential council properties. With limited funds in the bank to cover the cost of labour and materials, Grow Funding arranged a suitable Invoice factoring facility to allow the business to release cash tied up in their outstanding invoices. This means going forward at the point of them giving the invoice to the council they can factor the invoice to provide them with cash in the bank to cover their cash flow needs. An initial facility size of £165,000 was set up with view to this growing over time.
The Advantages:
• Credit insurance to protect you against bad debtors
• The funds are secured and valued against your assets
• Funds can be used for any business needs
• There is the possibility of being flexible in comparison to loans and overdrafts
Grow Funding ltd - 70 Goring Road - Goring by sea- Worthing - West Sussex - BN12 4AB
01903 660091
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