Jake Bebbington, Momenta Finance’s Business Development Manager based in the North East of England & Scotland, played a key role in the recent funding of an unsecured loan for a Scottish-based SME. Momenta Finance provided the loan amounting to £175,000 over a 6-month period.
Delivering Quick Funding Solution for Scottish SME
The deal was submitted by Ross Grant, a member of White Oak‘s Direct Sales Team based in Glasgow, and Ben McPheat, Head of Funding Operations at White Oak. This collaboration between White Oak and Momenta Finance helped the SME secure the funding it needed. The funding was necessary to support its cash flow requirements.
Working with White Oak
White Oak, with over 36 years of experience, provides various facilities to support SMEs, including VAT, tax, PII, refurbishments, acquisitions, asset finance, and ID lines to support business growth.
Ross Grant’s client had secured a contract set to start at the end of April. To support the client’s cash flow needs at the beginning of the contract, they required a 6-month loan. The unsecured loan was necessary to cover their initial costs until payments for completed work began. Since the contract’s expected duration was also 6 months, the client sought to align the loan repayment with the contract’s timeframe. This funding arrangement helped maintain the client’s cash flow stability throughout the contract.
According to Ben, the transaction went smoothly, and the post-acceptance process was straightforward without any issues. He also praised Jake Bebbington, as a pleasure to work with since day one. Ben further commented that Jake understood their business well and helped White Oak understand Momenta Finance’s risk appetite.
Momenta Finance is a leading alternative finance provider that offers a range of flexible funding solutions to SMEs across the UK. The company focuses on providing access to capital to businesses that have been underserved by traditional lenders. Momenta Finance is committed to helping SMEs grow by providing financing solutions that align with their needs and goals.
Overall, the successful funding of this deal demonstrates how alternative finance providers like Momenta Finance can help SMEs access capital quickly and efficiently. It also highlights the importance of having a trusted partner like White Oak. Which can help businesses navigate the lending landscape and secure the funding they need to succeed.