Your June Impact – Lending Impact and Borrower Stories
This month we’re looking at some of the success stories from recent borrowers and how your lending has helped them achieve their goals, from South East Timber & Damp to The Strings Club. Dive in below to find out more.
In case you missed last month’s post, we interviewed The Naked Marshmallow Company, and got ready for festival season with 5 camping essentials from Funding Circle borrowers.
When it comes to driving the UK economy forward these small businesses pack a pretty impressive punch. According to FSB statistics SMEs make up 60% of all private sector employment and 47% of all private sector turnover in the UK.
To help cover their staff’s wages for two months, husband and wife team Annabelle and Dean Webster borrowed £30,000 in August 2015. They’d approached a bank first but found the application process slow and cumbersome as they needed finance fast, so they did some research and came across Funding Circle. Ten days later, the couple had secured a cash injection for their business. “It’s been a lifesaver,” said Annabelle. The couple run Kent based damp specialists South East Timber & Damp. Read the full success story in The Times.
Award-winning musical education company, The Strings Club, offers children aged 4-11 a range of high-quality musical experiences. Founder Amy Cunnington launched the business in 2012 with the aim to give primary school children an opportunity to discover and engage with music. Their ethos is simple: for all children to be inspired by music.
The very first Strings Club took place in London with just 6 budding students. After, a parent asked, “When’s the next one?” Since then, The Strings Club has gone from strength-to-strength and Amy has remained devoted to creating musical experiences for children.
Due to the rising popularity of courses and lessons, Amy needed help keeping up with demand. Choosing Funding Circle for support, Amy said, “The loans allowed me to expand my business, hire new staff, buy more equipment and launch a marketing campaign. Overall, the experience was very efficient and very helpful.”
We’ll be visiting Amy and the team soon to film a case study video – stay tuned.
We’re well into wedding season and whether you’re organising your own or supporting family or friends with theirs we’ve put together a list of 7 unique businesses to help you get ready for the big day, from finding the perfect dress to finding the right venue.
At the beginning of July, we’ll be publishing ‘Your July Review – Insight and Analysis’ which will focus on the numbers and include some helpful tips to help you make the most of your investment.
Enjoy lending, the Funding Circle team