Case Study: Helping a business through every stage of growth11th April 2016
The client’s challenge:
Three years ago we were approached by a new startup company looking for £200,000 of funding for machinery. As with many new companies, they couldn’t find a lender that would lend that much money to a startup business. They had approached all the high-street banks, and all had refused, citing too much risk. After a tip from another of our clients, they came to Rangewell.
Right away our experienced team knew there was no point going to lenders with that big a loan for such a new company – no one would take on that level of risk. Our next step was to split the £200,000 into four smaller loans and find a different lender for each. With Rangewell’s extensive map of the UK business finance market, our team had no trouble finding four lenders who believed in the company and were happy to take them on. Because the company was so new, interest rates were still high, but our client thought that getting the full amount of funding, and being able to buy all the machinery they needed, was worth it.
The client’s next challenge:
Fast forward to the present day: our client’s business is thriving, and they want a way to refinance some of the equipment we helped them finance originally and decrease those high interest costs. Since we solved their problem last time, they came straight back to Rangewell for help.
Our next solution:
This time it was easier to find funding – our client had a strong, established business and lenders were eager to get involved. We input the company’s details into our online platform to find them the lowest rate from over 300 business lenders in the UK, and soon they were set up with a new funding partner offering them a lower rate and significantly reducing their monthly overheads.
Rangewell is a partner throughout every stage of a company’s growth. We helped our client from their earliest beginnings as they grew into an established business – and we’ll be with them for years to come as they continue to scale.
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