Funding without Banks Case Studies

Read our Funding without Banks Case Studies

Springhead Brewery

Springhead Brewery

The Directors of this family owned and run Nottinghamshire Brewery turned to Peer to Peer Lending to fund the development of their growing Brewery and PubCo Group.
Sterling Capital Reserve arranged £250,000 funding through a syndicate of individual lenders. The Loan was raised through a Peer to Peer Platform and will enable the Directors to streamline and expand production at the brewery and open up a new Pub “The Ginger Pig”, the fifth in the Group.

“As a family owned and run business we all saw the opportunity to build on the excellent foundations put in place over recent years. Our beers are well received and without further investment we were faced with the prospect of not being able to meet growing demand. The funding arranged through Sterling Capital Reserve enables us increase beer output in an efficient manner and we are delighted to be opening the “The Ginger Pig” which will be a superb venue for more customers to sample the full range of Springhead beers.”

Richard Scragg - Managing Director

Scalford Court - Care Home

Scalford Court

With the existing Bank looking to reduce its exposure the Directors of this care home were asked to refinance. Despite the home achieving its financial and care quality standards it proved difficult to raise the £900,000 required to re bank from the High Street Lenders.
Sterling Capital Reserve was introduced by the advisors to the business and was able to arrange the required funding through a Peer to Peer Lender. This particular platform is able to arrange loans with repayment profiles of up to 15 and 20 years when appropriate, a critical factor on this occasion.

“The concept of Peer to Peer Funding was new to me but I quickly grasped how it worked. In many respects the due diligence process was like dealing with a Bank the main difference is that although dealing with the Peer to Peer Platform you are aware that behind the scenes are a syndicate of lenders that each are making their own decision to lend.
Through Sterling Capital we have been able to break free from our former Bank relationship and can now look forward to further developing the business.”

Jeremy Lord - Managing Director

Wifinity Ltd

Wifinity

London based, Wifinity Ltd is the UK’s largest service provider of recreational internet for the MOD: Currently 1 in 6 soldiers in the British army use Wifinity.
Setting up a site is extremely capital intensive, with payback coming many months down the line, consequently banks were unwilling to lend to a projection led opportunity.
With significant demand, increasing site numbers isn’t the problem, expansion is limited only by funding.

“Frustrated with the lack of commerciality of the banks, and not willing to dilute equity we obtained assistance from Sterling Capital Reserve. Sterling worked with us to put together a comprehensive plan to fund a site roll out. We have so far received £650,000 across 2 loans from ThinCats with appetite to fund more sites as we progress”

Aubone Tennant - Managing Director

Meden Couriers Ltd

Meden Couriers

Secured a £150,000 Business Loan through Sterling Capital Reserve to expand the business and to replace a vehicle fleet.
Yorkshire based Meden were referred to Sterling Capital Reserve by their Bank as they were unable to assist. Sterling arranged funding through the ThinCats Lending Consortium, which takes a more practical approach towards lending to UK businesses.

“Our Loan was provided by 52 private individuals looking for a better return on Investment; without their support, we would have never achieved our objectives.
From initial meeting to Funds in the Bank, was less than 4 weeks and I would highly recommend this type of lending to anyone wanting to expand their business”

Kevin McDonagh - Managing Director

ICS Group

ICS Group

Secured £350,000 funding by combining both ThinCats and Funding Circle for a Management Buy-out. ICS employs 120 staff and provides call centre services round the clock 365 days a year for more than 2,000 clients, providing remote call-out and receptionist services.
The Clients’ bank were unable to assist but introduced Sterling Capital Reserve who were able to arrange the finance.

“We have built this business up through a huge amount of hard work and innovation. It is encouraging to see there are providers out there now that share that same innovative spirit and are able to help businesses like ourselves grow”.

Mr Menhennet - ICS Director

Kitewood Estates Ltd

Kitewood

It is well known that the Banks are being particularly selective when considering the property sector and - Kitewood Estates Ltd an innovative London based property Group were keen to explore “Peer to Peer Funding” as an alternative to typical Bank funding.

Through Sterling Capital Reserve a £500,000 facility was arranged for one of Kitewood’s subsidiaries Lilac Residential Ltd. The loan was arranged with the ThinCats Lending Consortium on an interest only basis with flexible repayment terms, the loan can be repaid early without penalty.

“We are always considering alternative methods of funding our activities and decided to explore the availability of “Crowd funding”. Looking forward we would certainly consider raising finance through Sterling Capital Reserve again and I expect this form of funding to continue to grow to satisfy some of the demand in the market not being met by the traditional providers.”

Andrew Binks – Finance Director

Technical Simulation Consultants

TSC

When Technical Simulation Consultants Ltd were turned down for a £50,000 loan for working capital by their bank, Sterling Capital were able to secure finance from Funding Circle.

Technical Simulation Consultants Ltd, is a business that specialises in process simulation software for the Oil, Gas and Chemical industries worldwide, they had a requirement for a lump sum of £50,000 to meet the demand for their services.

“We were delighted to work with Sterling who were very professional and secured the funding we required within ten working days”.

Michael Bolton - Managing Director

CDR Technical Services Ltd

CDR Technical Services

CDR Technical Services supply key components for catering equipment. The Directors had the opportunity to take on a significant number of new accounts but this required additional working capital.

Sterling Capital Reserve was able to arrange a £50,000 loan facility through Funding Circle to support the company’s continued growth and profitability.

“After an initial meeting and sending through information to complete the application, Sterling Capital Reserve dealt with everything and kept us up to date throughout the process. The loan documents were prepared as soon as the funds were in place and transferred to our account immediately the agreement was signed”.

Colin Wilson – Sales Director

Bradgate Business Finance Ltd

Bragdate

When the Directors were looking to take advantage of clear opportunities to grow their business they approached Sterling Capital Reserve Ltd to raise additional finance.

The company operates in the Midlands providing asset and invoice finance mainly to the construction, recycling and haulage industries providing finance for plant, business equipment, trucks and other vehicles.

Through Sterling Capital Reserve a loan facility of £200,000 was arranged for the company with Thincats investors.

“In the current climate the Banks are being very selective and finance is not always readily available from traditional funders. The facility we have arranged will enable us, in turn, to assist a number of businesses who themselves need to finance the plant and equipment they use”.

Richard Arnold – Director

Customark Ltd

Customark

Customark, based in the West Midlands, is one of the UK’s most diverse printing and labelling companies, having developed several unique and Specialist Labelling and ID applications

A recent acquisition of a complimentary business was only achieved through a successful application for a £200,000 loan from ThinCats.

“Banks weren’t able to assist with this acquisition as we needed to complete this transaction quickly. Without the help of Sterling and the ThinCats Investors, we would have missed out on this opportunity. I would therefore recommend this type of Borrowing to any businesses considering expansion as a viable and flexible alternative to traditional bank finance”.

Greg Lerigo – Managing Director

To Summarise...

Crowd Funding is an ever growing sector of the commercial finance market and one Sterling Capital Reserve have fully utilised for clients.