Selina Finance announces its first credit facility worth £200k with Funding Options

Another big announcement from the team at Selina Finance to follow on from our exciting news last week. We’ve just disbursed our first ever loan with our partners at Funding Options who are one of just 3 designated platforms chosen by the government-owned British Business Bank to help businesses find finance.

Loan type: Business Credit Facility

Credit limit: £200,000

APR: 7.10%

About the client:

A family business based in Middlesex, specialising in truck maintenance and repairs to major UK commercial operators including The Post Office and other blue chip clients.

Finance need:

Due to demand and capacity constraints, the client decided to take the leap and move operations into a new state of the art 22,000 sq.ft warehouse having spent the past twenty years operating in a local garage.

As part of the expansion, they completely fitted out the new commercial space with a training room, classroom, and boardroom, with the ground floor covering a brand new workshop.

After this large outlay, Selina Finance were crucial in helping the business plug their working capital shortfall. With the help of our funds, the company will now launch a new sales and marketing team that will help grow sales further this year as the company continues to expand during this exciting time.

How Selina Finance helped:

We were able to offer a large credit limit that the client can utilise as and when they wish to. We were delighted that the client selected our funding option after our rates came in a lot cheaper then other lender offers.

Really pleased to announce yet another success so early in the new year, with our first credit facility with Funding Options worth £200k. Despite what turned out to be quite a complicated case, the resilience and support from Nathan Foster was much appreciated. As a result, we have a very happy client who is using the funds to expand their team into 2020!!!

Angus Simms, Senior Partnerships Manager, Selina Finance