Decimal Factor recently assisted a Coventry-based business with obtaining a $500k unsecured business loan facility through one of our preferred Business Cash Advance lender.
The customer needed to raise funds for bulk stock purchasing along with carrying out store refurbishments. Initially, they had planned to do this by approaching their bank, but the process was taking too much time, along with endless requirement of documents.
Our Business development director had been in touch with the customer for a couple of months and during one of his follow up calls, the customer mentioned their pressing requirements. Our director discussed the range of alternative finance products available and within no time, the customer agreed to a business cash advance option.
We therefore assisted the customer with getting a $500k unsecured loan facility on the basis of their card sales. This did require for Decimal Factor to gain a full understanding of the client’s business model so that our Business development director could accurately relay our customer’s requirements to the lender and arrange the documents required by the lender in a timely fashion. Owing to our Business development director’s persistence and determination and consistent follow up with the lenders, we were able to close the deal within 10 days.
All communications with the customer happened over the telephone and this resulted in faster response times, quicker exchanges of information and documents together with the e-signing of contracts.
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Chief Operating Officer