The Challenge:

The owner of a skincare and laser clinic faced a significant financial hurdle. The business required immediate funding to pay for rent, equipment and staff wages, but had been turned down by traditional lenders several times due to the business owner’s low credit score, which was exacerbated by six past defaults. The business owner was on the verge of losing hope, unable to secure the necessary finances to keep the business running, when she contacted Bizcap via her broker.

The Bizcap Difference:

Unlike other lenders, Bizcap looks beyond the credit score and considers both qualitative and quantitative factors when assessing loan applications. After our Credit team verified that the defaults had been paid, were reasonably minimal and did not reflect the business owner’s current conduct, Bizcap granted the business an initial £6,500 Small Business Loan. The owner's prompt and clean repayment paved the road for them to receive four further loans with Bizcap, totaling £60,000.

The Outcome:

With the financial support from Bizcap, the business was able to manage its cash flow issues. Furthermore, each loan improved the business owner's credit score, as shown below, thereby expanding her future financing opportunities.