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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Disclaimer: Swoop Finance helps South African firms access business finance, working directly with businesses and their trusted advisors. We are a credit broker and do not provide loans or other finance products ourselves. We can introduce you to a panel of lenders, equity funds and grant agencies. Whichever lender you choose we may receive commission from them (either a fixed fee of fixed % of the amount you receive) and different lenders pay different rates. For certain lenders, we do have influence over the interest rate, and this can impact the amount you pay under the agreement. All finance and quotes are subject to status and income. Applicants must be aged 18 and over and terms and conditions apply. Guarantees and Indemnities may be required. Swoop Finance can introduce applicants to a number of providers based on the applicants’ circumstances and creditworthiness. Swoop Finance (Pty) Ltd is registered with CIPC in South Africa (company number 2023/820661/07, registered address 21 Dreyer Street, Cape Town, South Africa, 7708).
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