The challenge
Having recently been appointed CFO at Concise Media, Mark Winkler had been working with the team for a number of months, exploring the different funding avenues available to the business. With Concise Media growing very quickly, the team wanted to ensure that they found a debt option that was right for the business. They had applied for CBILS previously but had been rejected due to the EU rule on state aid.
The solution
After being introduced to Swoop, Mark had a conversation with Mike and Sam from the Swoop team about the opportunities available to the business. Importantly, he received an update from Swoop regarding changes to the eligibility criteria for CBILS. Following this, Swoop were able to identify two or three parties that they felt might be suitable – in particular, they thought IWOCA would be a good match.
The results
Mark worked closely with Swoop to collate and present the information to IWOCA in the appropriate manner. This led to a call with IWOCA themselves followed by a proposal. Everything was wrapped up that day, and the money came through over the bank holiday weekend.
Client testimonial
“There were a number of elements which were important in this process, but primarily this was access to a broad range of lenders, and a deep level of expertise and genuine understanding of the debt products and the lenders’ requirements. With any debt products, there’s always the risk of downside circumstances so it’s important to have a team like Swoop’s who can share their perspective.
As we continue to grow and our requirements change, if the chance arises, I would absolutely work with Swoop again.”
Mark Winkler, CFO of Concise Media
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