Growing a company is never simple, even if your business is winning new contracts and increasing revenue. One of our customers was in this exact position when they came to us. They provide electrical services for domestic, commercial and industrial clients. The business had won a number of new contracts, and they were in the perfect position to grow. However, they were worried about their cash flow.
The company was interested in hiring new staff, buying more tools and having some extra cash available for any other expenses. They calculated that a £100k loan would cover their needs and provide an affordable repayment schedule. The problem was that their accounts from the previous years had been hit by covid. This meant that, even though they were doing great, lenders were simply not offering them the financing options they needed.
After getting a very low offer of £35,000 from another lender with unfavourable terms, the business contacted V4B Business Finance. We were able to see that they had doubled their turnover from the previous year’s filings. We used this updated financial information to get them a great deal for the loan they needed.
By putting in the extra work to get to know the client, understand their needs and thoroughly reviewing their finances, we got them exactly what they needed. This is what sets V4B Business Finance apart from so many other lenders. We don’t just rely on a few basic metrics or offer you the first loan we find, we put in the work to make sure our clients know they are getting the best loan possible.
Loans To Electrify Your Growth
Our expert advisors were able to secure a loan of £100,000 with a 6-year term for the electricians. Better still, the loan we found offered a great early settlement discount so the company could pay off the loan early without paying future interest. This meant they had the money they needed in the bank, and their monthly repayments were very affordable.
With their financing in place, the electricians could get back to doing what was best for their business. They were able to start recruiting for new positions and buying the tools they needed. They also had enough money in their accounts to smooth out their cash flow. This all meant they were able to handle their current contracts more efficiently and take on more work so they could continue to grow in the future. Without a loan, they would have been stuck waiting for invoices, preventing them from quickly reacting to new opportunities.
Results
We were able to deliver the client the loan they needed by filing their latest accounts alongside their older numbers. This opened up a whole new range of loans for their business. We were then able to connect them with a lender who provided them with the £100,000 over 6 years and gave them very favourable terms.
The client was so happy with our work that they said, “You were absolutely brilliant from the first phone call to the last, we will 100 percent recommend and use you moving forward…”
Takeaways
Growing a business is never straightforward, and it always helps to have someone on your side that understand who you are and what you do. We were able to work with our clients to recognise their problems and identify the best possible solution. Once we saw that the previous low turnover was just a hangover from Covid, We were able to find a solution that got them the loan they needed.
If your business needs money to grow, bring on new talent or cover expenses, and you are worried that expanding will hurt your cash flow, call us today, and we can help you find the money you need in no time.
At V4B Business Finance, we can offer loans to help your business buy new equipment, upgrade your IT or refurbish your current premises. This allows your company to retain its own money for longer so it can invest in staff or new projects.
What would you purchase for your company if you could unlock the money straight away?
- Fast access to funds
- Flexible payment options
- Dedicated account managers
- Smooth your cash flow
- No arrangement fees
- Great customer service
