2015 News and Media

£5 million lending milestone

We are pleased to announce we have passed the £5 million lending milestone before reaching our first anniversary.

After our launch in March we had passed the £1 million mark within four months. Around three months further down the line we managed to pass £3 million threshold.

Our Director John Davies, noted that this news makes us one of the UK's fastest growing lenders in percentage terms, but stresses that we are not in competition with other lenders.

John has commented that “We are delighted to have passed this milestone and are already well on the way to exceeding £6 million,”

"Key to passing this latest milestone and having a healthy pipeline of business has been our willingness to adopt a collaborative approach with other lenders.”

"Many have more restrictive loan criteria and much longer processing time. This can sometimes be two to three months and a problem for customers that need to access working capital more urgently,” added John.

“We have seen this trend with companies turning to crowd-funding or peer-to-peer for long term funding without realising that it can take quite a long time to actually prepare for the fund-raise.”

Our facilities act as alternatives to bank overdrafts or business loans. The flexibility and immediacy of our funding has proved popular with businesses and brokers.

John notes and pays tribute to the NACFB, stating that being a patron member has helped drive the company's growth.

"Brokers promoting our funding solutions has been a major contributor to our success to date and our key challenge is to expand the range of brokers that know and understand what we have to offer,” said John.

We would like to take this opportunity to thanks all of those who have helped in our journey so far.

Date Issued Thursday 26 February 2015.

This article was originally published by B2B news portal Bridging & Commercial.

Follow @justcashflowuk on Twitter for more like this.

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