Taking the next steps for your business can be an exciting moment, but it often requires a large level of investment.
That was certainly the case when a long-standing customer of Moorgate Finance reached out to us about funding for a construction project at their veterinary practice.
The practice specialises in surgery, hospitalisation and diagnostic imaging, meaning they need to ensure their premises is always in the best possible condition with leading facilities.
The Challenge
The customer was at the stage where they needed a complete clinic fit-out involving a high-level of construction works.
They didn’t have the available funds to pay for the whole project outright without putting undue pressure on cashflow.
They also had VAT and Corporation Tax bills on the horizon, so approached Moorgate Finance for alternative finance solutions.
The Solution
We were pleased to be re-approached by a long-standing customer and felt we already understood their business well, putting us in a strong position to help them.
We managed to secure a £250,000 unsecured loan over a 5-year term to fund the projects in hand.
This meant that instead of paying a lump sum, the practice were able to make affordable monthly payments against the loan leaving enough cash for other areas of the business, like their pending VAT and Corporation Tax bills due just a few months later.
The Highlights
- An exciting new opportunity from a long-standing customer.
- We helped to secure a £250,000 unsecured loan over a 5-year term.
- Took pressure off business cash flow ready for their VAT and Corporation Tax bills.
If you’re looking for funding support to grow your business, we’d be happy to help. Call us on 01908 92 62 62 or follow this link to make a 2-minute application free of credit checks.