Swoop’s customer is a communications business that helps its clients improve their engagement with end users through technology.
The company’s founders were introduced to Swoop by the Cumbria Chamber of Commerce. The company had a short term cash flow issue as one of their debtors was unable to pay as scheduled.
With their quarterly VAT bill coming up, the founders knew they would not be able to meet their own commitments without outside support.
Within just three days of receiving the enquiry, Swoop managed to secure the business a VAT loan, spreading their tax bill over three payments, massively improving the company’s cash flow position.
Tom Hawley, Funding Manager at Swoop says: “It has been a pleasure working with these customers. They were always quick to respond to requests for information, which makes the process as seamless as possible. I’m looking forward to working with them both again – as we will be funding their next VAT bill along with the implementation of a longer term financing solution.”
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