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New start up company in the music business

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This case study highlights the benefit of being in a formidable financial position with a new start up, while leaving the delicate transition of an existing company to the next generation in full financial strength.

Genie Lending have been instrumental in providing finance for this long standing client who has owned and traded a successful flooring and furniture retail shop in the midlands for over 30 years. Due to it’s stable and established core, the owner was wanting to hand the reign of this business to his adult children- the next family generation. Thus allowing him to pursue his passion in a new business, importing and selling musical instruments.

His personal investment for the music store, provided enough to cover the set up costs for this brand new business. However, the new company needed funding to improve stock levels and fit out the shop which he approached Genie Lending for.

With a solid business plan and realistic cash flow forecast provided, the Case Manager was able to achieve the required funding for the company by utilising the available equity in their residential property as security. The monies were lent to the new Ltd company with a personal guarantee from the director in turn supported by a second charge against property. Funds were made available within 4 weeks.

We couldn’t be happier for this family and wish them all the best. We will continue to be on hand for any future commercial finance that these companies may need.

If your business requires funding, you can trust Genie Lending to go to every extent to provide the correct finance quickly, for the result you want. As well as the household names in the industry we have access to proven lending sources who you will not find on the high street. Our aim is to help UK SME’s obtain funding for all their business requirements, whether that be growth, acquiring premises, paying HMRC liabilities or simply working capital. Genie Lending can assist with complete finance solutions.

Funding for the purchase of a coffee shop in Worthing, Sussex.

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Our Client has been managing a seaside café for several years and was given the opportunity to purchase the café from the owner. The fit was perfect, and there could be no question regarding the viability of the business model given it’s current trading figures. Buying this independent cafe was simply an easy choice which would enable the current managers to become proprietors of the cafe, truly owning their dream.

Seizing the opportunity, the client agreed to the purchase with another family member, setting up a new Ltd Company for the purpose. The client approached his own bank and other high street banks to borrow the funds however, they were turned away as these lenders took the view that he did not have enough experience and it was viewed as a “new start business”.

The team at Genie Lending could see the possibility in this established business and went about helping this client to source the right funding. Genie were successful in securing funding for the purchase of the business where others had been unable despite it being considered a start up.

The client was enormously grateful when terms were agreed and funds were paid out to the client within 4 weeks. A fantastic early Christmas present for our clients, which will see this cafe continue to operate with the passionate and care that goes into this business. Also a win for the local community and tourists alike.

Genie Lending have a wealth of experience in helping new start and young business raise funds based on both short term trading figures and projection led lending.

If your business has found funding difficult to obtain you can trust Genie Lending to go to every extent to provide the correct finance quickly, for the result you want. As well as the household names in the industry we have access to proven lending sources who you will not find on the high street. Our aim is to help UK SME’s obtain funding for all their business requirements, whether that be growth, acquiring premises, paying HMRC liabilities or simply working capital. Genie Lending can assist with complete finance solutions.