Entering a new industry can be tough. Securing finance for a new start-up in this industry can be even tougher. We were approached by someone in exactly this scenario, and still managed to secure the funding!
The Challenge
This customer was a new start business with little previous experience in the aesthetics industry. As they prepared to launch, they were also doing so as part of a new franchise. To kick start the business they needed to purchase a Laser Hair Removal system, something that required significant funding. With no cash reserves available to do this, and not much security behind their name, they reached out to Moorgate Finance to see how we could help.
The Solution
With plenty of experience with new start-ups, we were ready to rise to the challenge. Despite being a new business, in a new industry, and a new franchise, we secured the funding they needed! We helped the customer to secure £65,000 for a laser hair removal machine on a 48-month term, with just a 5% deposit. If that wasn’t enough, they were able to defer the VAT too. This package meant not only was the funding secure, we’d actually beaten the rate quoted by their bank.
The Highlights
✅ £65,000 secured for a laser hair removal machine.
✅ Beat the banks rate, despite being a new start-up.
✅ Only a 5% deposit required, and VAT deferral secured.