We recently helped an event organiser cover last-minute changes in a venue’s payment policy. The event was taking place in just two weeks.
The music event takes place twice a year. The organisers hold a traditional summer event outside but realised there was also a market for an indoor one in the run-up to Christmas. This year, 2,600 people attended.
A Sound Business Model
The organisers used the Funding Options platform to find a lender who could finance the event quickly.
Funding Options is a digital brokerage platform that matches borrowers with suitable lenders. The platform put the organisers in touch with us.
We could see that the organisers’ business model was sound. They were almost guaranteed to get the money they borrowed back and could prove ongoing tickets sales in the run-up to the event.
Plugging the Cash Gap
We provided the client with a fast track loan, secured by two personal guarantees and a debenture over the business.
We approved the loan within two days of the client submitting all the information requested. The deal was completed in three working days.
We even went as far as to meet the client at the event to personally pick up the loan documents to ensure a speedy process.
The event went ahead and was a huge success.
Funding Cloud and Reparo: Fast, Flexible Lending
This loan highlights the variety of different businesses that we fund. It also shows two other things:
1. Funding Options is a great way to get finance fast.
The way it works is simple. Borrowers fill in a form outlining their requirements. The client is then matched with potential lenders who can send an offer. The borrower chooses which offers they like and allows the lender to contact them.
Putting the organisers directly in touch with our team allowed us to begin the lending process immediately.
This is the second deal that Reparo has financed through the Funding Options platform and we’re pleased with the fast, convenient service we were able to provide.
2. Reparo can structure deals around almost any client.
Most lenders would not have funded this client. Banks are too risk-averse and algorithm-based lenders would have rejected the application based on the lack of funds and company records.
However, we took the time to understand the client and their situation. We looked at why the organisers required the money, how it would be repaid and set guarantees that would protect the client and us.
If your business needs a fast, accessible loan between £25,000 and £1 million, get in touch with one of our team today.
Craig Ashton
07917 907 931
ca@reparofinance.co.uk
Daniel Jones
07824 873 358
dj@reparofinance.co.uk
Gurinder Mandir
07805 737 324
gm@reparofinance.co.uk