Seizing the Opportunity: New Equipment Funding Secured in Just 24 Hours for Growing Ice Cream Business
Company Sector: Hospitality
Loans Secured:
- Short-Term Loan - £18,000
- Asset Refinance - £14,500
The Challenge
“they needed funding quickly to avoid missing out."
Our client is a three-generation family-run business in a busy coastal town, known locally for its homemade gelato and cakes. The business manufactures its own ice cream which it then sells in their cafes. Demand had continued to grow and they regularly sold out, limiting their ability to generate further sales.
Their existing ice cream machinery was older and lower capacity, and it was holding them back. An opportunity arose to purchase suitable second-hand machinery at a particularly good price. However, with the equipment available for a limited time, they needed funding quickly to avoid missing out.
The shareholders did not have a strong personal credit history and they were tenants rather than homeowners. This made finding a suitable lender more challenging.
Our Solution
"We successfully arranged an £18,000 Short-Term Loan, approved within 24 hours"
Understanding the urgency, we explored the available funding options and identified a Short-Term Loan as the best way to secure the machinery quickly. We successfully arranged an £18,000 Short-Term Loan, approved within 24 hours, allowing the business to purchase the equipment before the opportunity passed.
The funding also provided additional working capital, enabling the business to purchase stock and manage cashflow during this period of growth.
Once the machinery had been purchased and the business had increased their capacity, we then revisited the borrowing. At that point, we arranged a £14,500 Asset Refinance facility with a specialist Asset Finance lender. This enabled the client to move part of the original short-term borrowing onto a more competitive, longer-term facility.
The remaining balance was subsequently settled using the additional revenue generated from the increased production and sales.
The Results
- £18,000 approved in 24 hours, securing the specialist machinery before it was sold elsewhere
- Funding secured despite non-homeowner status and shareholders with poor credit history
- Asset Refinance of £14,500 used to refinance onto a better rate over a longer-term
- Increased production capacity, with the business no longer selling out daily
- Extra revenue helped to clear the remaining short-term balance
If your business needs to move quickly to seize an opportunity, get in touch to explore how we can help - 01832 770 273