A pleasure boat hire business has been able to expand its fleet in time for the busy summer holiday season thanks to the expertise of Weybridge-based chartered accountancy firm TWP.
The business owner approached TWP managing partner Philip Munk after being unable to secure the debt finance needed to expand his fleet.
As an expert in business finance, Philip has considerable experience of helping businesses of all sizes and sectors secure the finance they need from a variety of alternative funding sources.
Having carefully considered the options available, Philip approached crowd-funding lender Assetz SME Capital, a peer-to-peer lending website where funding proposals can be pitched to thousands of potential backers.
Drawing on his own expertise in this area, Philip was able to put together a detailed case study proposal on behalf of the client, which was then listed on the Assetz website in a bid to attract offers. A suitable offer was made and accepted, with the client receiving the funding in time for the summer holidays.
Commenting on the deal, Philip said: “Many smaller businesses are still finding it difficult to secure the funding they need to grow. However, what many business owners do not realise is that alternative funding sources are available, meaning that they do not have to grow through more traditional avenues such as the banks.
“Peer-to-peer lending websites are becoming an increasingly popular source of commercially priced loans, with the aim being to put businesses in need of funding in direct contact with individuals looking to invest either the full amount or part of it in conjunction with other investors.
“Our role is to help the client put forward the best possible business case to ensure they attract the most appropriate investment for their requirements. We have helped a number of clients secure valuable funding in this way, enabling them to pursue their growth plans which in turn will help benefit the local economy.”
For further information, please contact TWP on 01932 704700