CLIENT STORY

Fast-Growing Events Company

KEY FACTS

  • Industry: Hospitality - Events
  • Amount: £90,000
  • Reason: Smooth cash flow after rapid growth
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We are pleased to partner with Nucleus and very excited about their new product range: being able to work so closely with our lender, allows our clients to benefit from seamless funding solutions.

Karen Davidson, CEO | Now Business Finance (Introducer)

PRODUCTS USED

A fast-growing events company had enjoyed phenomenal success over the past 18 months, since inception, experiencing an incredible increase in turnover from brand-new start-up, to over £2m annually. The nature of the events industry, meant that they were experiencing problems with their working capital, stemming from cash flow gaps as a result of long payment terms and heavily loaded up-front costs.

After reaching out to the bank they were surprised, considering the evidence of their success, that they were not offered a suitable finance solution. They needed a fast, flexible solution to smooth their cash flow and allow them to continue their growth, unhindered, by reinvesting in their business.

The company, which specialises in ticketing and club nights, was finding their cash flow under extra pressure, simply because of its rapid growth, Nucleus introducers, Now Business Finance’s team was tasked with finding a solution.

The Now Business Finance team, who had worked with Nucleus on several occasions knew how to get the business funding that fitted their client’s specific needs and, much more quickly.

The team at Nucleus saw the business was under pressure but that with a cash injection, could truly thrive. Our team of dedicated in house experts, are committed to understanding SMEs and listened to the story before delivering a solution. Nucleus  quickly assessed the property loan applications and made a principle offer for a secured loan. Nucleus are always glad to help a growing business and in this case the bespoke structured loan we provided relieved the growing pains of the business and allowed them to focus on delivering events and growing the business year-on-year.

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