A recent applicant for a Newable Business Finance loan was a company which specialised in designing, planning and building innovative infrastructure which helps their clients to increase efficiency and lower costs in the deployment of telecommunications solutions and services. High profile clients have included Virgin, Ericsson and Vodafone.
The applicant, who had traded successfully for over 15 years, approached us for a loan of £100,000 over 5 years. The funds would be used to assist with plans for further expansion which include providing fibre connectivity to new homes across the UK, an area of their business which has seen significant recent growth.
The company’s most recent accounts showed that turnover had increased impressively to around £4.5m with profits also rising. The bank statements which were provided in support of the application showed a well conducted account which operated in credit at all times with no instances of unpaid items seen. The company directors had strong personal credit files with significant equity noted in their private residence.
Repayment capacity was clearly demonstrated by this applicant helped by a strong and growing client base. Newable was therefore happy to approve this request with the loan supported by Director’s Guarantees and an all asset Debenture.