Picture story: peer-to-peer lending helped this Southampton business expand

How 168 people helped a powerboating company grow

Peer-to-peer lending helped a powerboat experience company widen their list of attractions.

Saber Powersports offer adventure experiences on their fleet of powerboats off the coast of Southampton. They needed to raise finance so they could purchase a new engine for one of their boats, helping the business to grow.

In May, they took out a business loan through Funding Circle which was funded by 168 people across the UK and the Government. This allowed them to renovate a boat so they could expand their fleet and offer new types of attractions for customers.

We went to Shamrock Quay to visit Simeon Penn, director at Saber Powersports and we were lucky enough to have a ride on the new boat and test out the new engine. It was certainly an adrenaline packed experience!

Here’s the story of their business and their experience of Funding Circle in Simeon’s words:

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Jack Pritchett

Senior Communications Manager

 

3 thoughts on “Picture story: peer-to-peer lending helped this Southampton business expand

    • Hi Nick, recent research shows that Funding Circle helps approx 30% more businesses access finance. 77% of businesses who have borrowed through us would also come back to us first over a bank. Typically, speed and efficiency are quoted as the main benefits – businesses access finance within two weeks approximately compared to 15 – 20 weeks via a bank.

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