Launching a new business venture
Clear Business Finance helps a UK entrepreneur to get their new venture off the ground, turning a well-practised hobby into a profitable business.
A UK entrepreneur set out to achieve a long-deliberated ambition. They wanted to turn their hobby into a new business venture and had identified a suitable premises to cater for bouldering and rock-climbing enthusiasts of all ages. However, with no prior experience of running a recreation business, they were running into difficulties securing the needed financial backing.
To get this endeavour off the ground, there were many factors that needed to be considered. To secure the site a deposit was needed, otherwise they risked losing the opportunity. Furthermore, building work would then be required to adapt the venue, not to mention the acquisition of climbing obstacles and well-trained staff to ensure the activities could be undertaken safely. The costs were soon adding up, but as someone who was accustomed to adversity, they wouldn’t give up easily. Yet, a lack of options could soon leave them with no choice.
Key Facts
The Results
At Clear Business Finance our close relationship and reciprocation of trust with over 60 of the UK’s leading funding providers, allows us to support business owners where other brokerages might struggle. Thus, upon hearing of this entrepreneur’s difficulties, we worked closely alongside them compiling a credit proposal demonstrating previously unrelated business successes and connections within the rock-climbing industry. Furthermore, rather than looking for one fully encompassing agreement, it can sometimes make commercial sense to syndicate the requirements allowing for each solution to be tailored accordingly.
Subsequently, due to the preferential terms on offer via equipment finance facilities, we identified a lender that had the appetite to fund climbing walls/obstacles, and quite quickly secured multiple credit acceptances for the various assets. Next, we were also able to secure a highly diverse loan agreement, allowing this UK business owner to cater for their various cash flow needs as the venture progressed. All in all, over the weeks and months that followed the financial backing helped this start-up business to become one of the largest and highest Clip 'N Climb arenas in the UK, while manageable monthly repayments helped to ensure their liquidity was kept intact.
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Success Stories
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