After the Bank Said No
A retailer was turned down by his bank and didn't know where else to go. He had the money within 48 hours.
I'd been turned down by my bank and wasn't sure where else to go. CapExpand got me approved with a different lender within 48 hours.
James has run a shop in East London for four years. The business is profitable, the reviews are strong, and the regulars keep coming back. But when he needed £15,000 to expand his stock range and get set up online, his bank wasn't interested.
"They said my business was too young and my turnover wasn't high enough. I'd been banking with them since I started and they still wouldn't help."
He found CapExpand through a Google search that evening and filled in the form before bed. The next morning, his phone rang.
"Alex actually asked about the business, what the money was for, and how my card sales were looking. Then he said he thought he could find me something. And he did."
CapExpand introduced James to a revenue-based finance provider. The application went in that morning. By the following afternoon, the money was in his account.
"Forty-eight hours from being told no by my bank to having the money. The repayments come from a percentage of my sales, so it's manageable even in quieter months."
The outcome
James used the funding to expand his stock range and set up an online store. The funding was repaid through card sales over eight months. He's since used CapExpand again.
Could this work for your business?
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