When a boat building company found themselves in financial uncertainty, they needed a short-term working capital injection to smooth cash flow. After reaching out to many lenders, they turned to Millbrook Business Finance for support. Facing a critical need for working capital to keep their operations afloat, they sought a business loan that could provide the necessary funds to maintain production and sustain their workforce.
In this success story we explore how business finance specialist, Will Evans, secured the funding they needed, empowering them to continue crafting high-quality vessels and ensuring their business stayed on course for success.
Neil, the managing director of a Portsmouth-based boat building company, established the business in 2012. Specialising in marine welding and fabrications, the company creates bespoke aluminium commercial and leisure vessels from scratch. Renowned for their high-quality commercial workboats and leisure vessels, they collaborate with top naval architects globally to offer the best designs to their customers.
Neil's company faced a disruption in working capital due to unforeseen circumstances, affecting cash flow for materials and labour. This jeopardised project completion and potentially strained client relationships. They needed a short-term funding solution to keep their operations running smoothly.
After being declined elsewhere, Neil felt it was the end of the line. However, speaking with Will Evans, a business finance specialist at Millbrook Business Finance, changed everything. Will negotiated with a lender and secured a £90k short-term business loan. The funders responded quickly, releasing the funds within the required timeframe to keep projects on track. The unsecured business loan, with a 12-month term, exceeded Neil's expectations, going from signature to pay out in just 2 hours.
The funding allowed Neil to overcome financial hurdles, enabling the continuation of his projects. This not only helped complete current projects but also opened doors for new revenue opportunities. The loan provided Neil with the confidence to deliver high-quality work and maintain strong client relationships, ensuring the company's reputation and future growth.
Millbrook Business Finance, with the expertise of business finance specialist, Will Evans, provided a timely and effective solution for Neil's boat building company during a critical period. The unsecured business loan not only resolved immediate cash flow issues but also paved the way for future growth and success. This case highlights the importance of having a reliable finance partner who understands the unique needs of your business and can deliver swift, tailored financial solutions.
Get in touch to discuss your business financing needs with one of our experts. Alternatively, apply for business finance with Millbrook now for a tailored financing solution that can help you keep your cash flow healthy and navigate times of uncertainty.