It is well documented that start-up businesses and SMEs regularly have problems accessing the funding they need from banks, but for the past 10 years Let’s Do Business Finance has been filling the gap left by high street lenders.
Based in Bohemia Road Hastings, Let’s Do Business Finance has lent over £4 million to businesses, creating or safeguarding over 1200 jobs. From start-ups to established businesses, the team provide a wide range of routes to finance for businesses in Sussex, Kent and Surrey.
One of the many success stories is a new hotel with a rapidly growing reputation. Smart and Simple Hotel is the brainchild of hotelier Simon Colbran from Eastbourne. The entrepreneur secured a lease on an existing hotel, but needed investment to help complete an extensive refurbishment.
Let’s Do Business Finance reviewed his business proposal and recognising the potential, the team agreed a loan of £25,000 and provided expert business mentoring to get the hotel up and running.
Simon Colbran said, “The funding and support I received was invaluable. It helped with everything, from fine tuning our business plan to producing cash flow forecasts. Business is booming and we are looking forward to a busy year.”
Let’s Do Business Finance can lend up to £50k over a maximum term of seven years to established businesses and also helps finance start-up businesses, with a maximum loan of £10k.
Let’s Do Business Finance also administer funding through the government’s Start-Up Loan scheme. The scheme offers budding entrepreneurs the opportunity to turn their business ideas into reality with the help of funding and support from experienced business mentors. An age cap has recently been lifted with the Start-Up Loan team receiving applications from anyone aged 18+ who wants to launch their own business.
Darren Jackson and Karen Davis also benefited from Let’s Do Business Finance, after they gave them the funding boost they needed to expand their solar and renewable energy business Ecofurb.
Established in 2008, Ecofurb is a local family-run business who pride themselves on the quality of their work and serve the homes and businesses of Eastbourne and throughout the South East of England. When Darren and Kate were in a position to grow their business, they weren’t able to access the funding they required via the high street lenders. That is when they discovered The Let’s Do Business Group.
Darren said, “We were turned down by the banks at the time, but with the help and support of Let’s Do Business we were able to secure the funding we needed to expand the business and manage our cash flow. It’s been great working with them and we are grateful for support they have given us and are excited about the future of Ecofurb.”
The Let’s Do Business group initially helped the pair with their business plan, which meant when they attended the lending panel they impressed across the board and their loan was approved. Let’s Do Business was then able to assist them in accessing finance through the Enterprise Finance Guarantee scheme.
Graham Marley, chief executive of the Let’s Do Business Group, said, “Let’s Do Business Finance was launched to support both established and new businesses in Sussex, Kent and Surrey and I’m delighted that we have been able to help so many businesses over the past 10 years.”
Let’s Do Business Finance can not only help with finance themselves, but can also provide advice on applying to banks, other financial institutions and business planning. Contact firstname.lastname@example.org or call 0845 601 8326.