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Case Study

Partner 1 - Bibby

BPE Signs points to ten-fold growth over next four years

Business funding helps boost company’s green credentials

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Business: BPE Signs Ltd

Location:  Bournemouth

Sector:     Manufacturing

Funding:  £150,000

Turnover: £1 million

Bournemouth sign maker, BPE Signs, is anticipating ten-fold growth over the next four years to reach a turnover of £10 million, thanks to funding support from Bibby Financial Services.

Established in 1952, the company manufactures internal and external signage, roller banners, posters and shop fronts for companies across the UK. Clients include high profile brands such as fast food outlet KFC and clothing retailer French Connection, as well as smaller, local customers. BPE Signs employs 10 staff and is at the forefront of the UK sign industry, with all work serviced digitally. Recent investment into green technology meaning the company is able to offer signs and posts made from recycled plastic bottles.

Earlier in 2014, BPE Signs began working with Bibby Financial Services to ensure it had enough funds available to comfortably service current work, as well as take on new clients. An invoice discounting facility of £150,000 was put in place which enabled BPE Signs to win new business, including a contract with Bourne Leisure, owner of Haven Holidays and Butlins holiday camps.

BPE Signs group chairman, Andrew Ballington-James said: “Without invoice discounting from Bibby Financial Services we wouldn’t be able to grow our company. Our suppliers are more than happy to work with us once they know we have funding in place, as they are confident their invoices will be paid. This means we can reduce costs because suppliers offer us better prices, which increases our bottom line, so we can buy high quality products and offer our clients a better service.

“An increase in profits has meant that we have started to invest in the business already. All our jobs are now completed digitally which makes the signs quicker to create, and we can also manufacture signs from recycled material. This is particularly in demand as many clients want to improve their green credentials.”

With the invoice discounting facility in place, BPE Signs is aiming to invest internally and grow turnover by £9 million. Andrew continued: “The new contracts mean we can invest in the future of the company – we are planning to employ 10 more staff and open a second factory over the next 12 months. Over the long term, we aim to expand into new sites across the UK as well.”

Nick Carter, Head of Sales South Coast for Bibby Financial Services said: “BPE Signs is a great example of a small, highly successful business that has the necessary skills and tenacity to take on large scale projects, but just needs funding support to do so.

“As BPE Signs has demonstrated, invoice discounting is a reliable source of funding that can benefit manufacturers financially in terms of growth and also in terms of cementing relationships with suppliers and clients, as the business is seen to be financially stable.”

Case Study

Partner 2 - Funding Circle

Teasdale Motorcycles triple turnover thanks to Funding Circle investors

Andy Walker, founder of Teasdale Motorcycles, has had a passion for bikes his entire life. His dad first introduced him to the wonders of motorcycles when he was young and he quickly grew to adore the freedom of roaming around the country on a bike of his own. Andy realised that he could turn his passion into a career, spend his days surrounded by bikes as a profession.

In 2003, Andy founded Teasdale Motorcycles, which has since become one of the largest dealerships in North East England, operating as an official franchise for Derbi, TGB, Aprilia and Moto Guzzi. They also expanded their product offering to include bike clothing and repair services. Teasdale is now a one-stop-shop for motor enthusiasts all over the North of England

To help the business expand, Andy borrowed £167,000 through Funding Circle from thousands of investors. Since then, Teasdale have boosted sales through a new website and expanded into much bigger premises. Being able to expand the business when the time was right means that turnover has since tripled, with the team growing by 10!

In this short video, meet Andy and find out more about Andy’s passion for bikes and his experience of borrowing from Funding Circle investors.

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Case Study

Partner 3 - Together

Part Built Development/Bridging Finance

Objective

Applicant required £110k to finish part built residential property (5 bed detached in 3 acres) Near to Knutsford.

Wind and water tight with funds required to complete orangery, fit kitchen and bathroom and to Landscape.

Obstacle

Property deemed un-mortgageable by majority of high street lenders

Outcome

Property was valued by Atlas One at £900k as stands and £1.4m on completion. £350k owed on a 1st charge to Barclays/Woolwich.

Reviewed the application with RW in order to confirm that plans/permissions etc stacked up.

Advanced £110k day one by way of a bridging loan with 6 months deducted day 1 with clause to confirm that roll up from month 7 subject to completion of property and asset on the market for sale.

Case Study

Application for a £2,000,000 secured loan

This is the largest secured loan in history. When we first received this case we knew it had merit and was a good case due to the LTV, however the £2,000,000 request sent shockwaves around the team.

The client had approached an IFA with a view to remortgaging, the client had recently upgraded their mortgage to a favourable rate, remortgaging again would have lost the rate, triggered penalties and was not the most economically viable option for raising the money.

After consulting a number of lenders and exploring various options, Freedom and the IFA decided to work in conjunction with Shawbrook Bank. Given the size of the loan and the complexity involved, we needed a lot of detailed information in order to accurately assess the affordability and risk and to determine the best product for the customer. After weeks of discussions and in depth conversations the client got their £2,000,000.

Case Study

An application for a loan to buy shares

We received an application from a broker who had a client who wanted to purchase shares.

The client was a Greek national, residing in France, his security for the loan was on a buy-to-let property he owned in London.

He didn't need to send in any original ID, it just required certification in his country of residence and to satisfy the lenders compliance requirements due to being completely outside criteria.

Case Study

An application for home improvements without permanent rights to reside

We received an application for a home improvement loan.

The 1st applicant had severe adverse credit due to work permit issues and the 2nd applicant didn't have full rights to reside, they were both from Ghana. Despite the 1st applicants adverse credit (there was a perfectly valid explanation around this) the lender took a common sense approach and we managed to get it approved on the 1st applicant only as w weren't relying on the 2nd applicants income.

Case Study

Application for a loan for home improvements

We received an application for a loan for home improvements. Whilst the application was being processed the applicant worked with the land registry and his solicitor to split the title on his land. His future plans were to renovate his existing property and to sell it, his mortgage and secured loan were secured on this title.

The sale of his existing property would allow him to build a new house on the land with the new unencumbered title, enabling him to speed up the process to be mortgage free.

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