Sometimes businesses don’t just need money—they need money fast.
There are several reasons why this could be the case: they may be struggling with cash flow problems brought about by a sudden expense, or they may need the money to take advantage of a time-sensitive opportunity.
Whatever the reason, borrowing from a traditional lender would take too long, leading to cash flow problems or missed opportunities.
At Reparo, we have a proven track record of providing businesses with access to cash when they need it. This article will look at why we’re quicker than other lenders, as well as show you some examples of times we’ve provided funding to businesses quickly over the last year.
Reparo Is Set Up for Speed
We understand that fast access to cash is essential to many of our customers. Because of this, we have built a process to lend quickly—not when it’s too late. There are several ways we do this:
- We have a small team, and everyone that needs to approve a deal is involved from the start of the process. This helps us stick to tight deadlines.
- We have a network of partners we can rely on to work quickly, including surveyors and legal partners.
- Everyone at the company has the expertise required to know when an application is viable, so we can quickly move it onto the next stage.
Here are four deals we closed quickly last year:
£50k Loan Approved in Time for Christmas
The Christmas period can be hugely profitable for the hospitality industry. When this entrepreneur decided to take over a bar, he wanted to benefit from the Christmas season.
To do this, he needed a loan to refurbish the bar. While he may have been able to get one from a bank, it probably would have been too late.
Short of time, we worked to get the money into the entrepreneur’s account within just three days, ensuring the bar was in the best possible position to maximise revenue during the Christmas period.
£30k Working Capital Loan Helps Construction Company Avoid Expensive Delays
This construction company required a loan to cover the working capital costs for a project. Getting access to the money quickly was vital, as any delays would have been costly from both a financial and a reputational standpoint.
Similarly to the previous example, the business may have been able to receive funding from a bank but was worried it wouldn’t be able to do so fast enough.
We completed the loan in a few days. One factor that helped us to move quickly was our trusted network of surveyor. We were able to find someone to value the property so it could be used as security.
£50k Loan Protects Construction Subcontractor During Project Delays
Delays are common during construction projects. Unfortunately, these delays can leave subcontractors short of cash.
That is exactly what happened to this business. The unexpected delay meant the company was suddenly struggling to cover costs.
We were happy to provide a loan that allowed the business to continue trading until the next stage of the project began. Our team met the director soon after they approached us, and after the initial meeting we were able to put a deal in place quickly.
£100K to Ease Growing Startup Cashflow Problems
This eCommerce startup was growing rapidly and bringing in excellent sales when it came to Reparo about a loan to help ease cash flow issues. These problems were due to the need to keep replenishing stock. They needed the money quickly, as running out of stock would have hurt sales.
Reparo had already dealt with the entrepreneurs and had provided funding at the beginning of their journey. This trust, combined with the further equity investment they secured and personal guarantees put up by the founders, meant we were more than happy to provide the company with the loan they needed.
Speed Is One of Many Reasons to Work with Reparo
Reparo has a successful track record of providing funding to businesses in a short timeframe. The speed of our service is a compelling reason to work with us; however, it isn’t the only one. We also pride ourselves on being:
- Flexible: We aren’t bound by the rigid criteria you may find at other lenders. We are always willing to look at the specific circumstances of each application.
- Personal service: When you come to Reparo with a loan application, we will always do what we can to understand you and your business. We’ll often travel to meet you and discuss how we can help.
- Knowledgeable: Each member of our team has significant commercial expertise, which means we understand the problems businesses go through. This ability to understand our clients and their businesses helps when assessing loan applications.
If your business needs a loan at short notice, get in touch with one of our team. We are available at email@example.com or on 0161 451 5714.