One of our accountancy firm partners recently applied on behalf of his client, an industry leader in automated lighting, for a loan with Spotcap. They supply and commission intelligent fully addressable automated lighting control systems for the private and public-sector construction industries.
The company, based in the Midlands, had recently switched from procuring the product from within the UK to importing from the Far East. As a result, the cash flow changed and £60k was needed to ensure continuity of supply.
Within 24h, we approved a fully unsecured £60,000 loan based on their strong equity position and growing EBITDA in the business.
The outlook certainly looks bright!
Originally published January 12 2018 , updated March 15 2018