That’s where Momenta Finance comes into play, in collaboration with Jack Rowe from the highly reputable brokerage, Funding Bay. Together, they have joined forces to address the financial requirements of numerous UK-based SMEs spanning diverse industries. With their FCA-regulated status and an impressive six-year track record, Funding Bay provides a wide array of business finance products designed to meet the unique needs of SMEs.
In the past month, we’ve witnessed the remarkable success stories of four UK SMEs that have received funding.
The successful funding of these SMEs is a testament to our exceptional ability to support businesses across a wide spectrum of sectors. But there’s more to this success story than just numbers and figures. It’s about the power of forging strong, productive partnerships between borrowers and lenders, a synergy that is indispensable for SMEs aiming to thrive in today’s competitive marketplace.
In the past month, the remarkable success of four UK SMEs, which received funding, is a direct outcome of the close working relationship between Momenta Finance and Funding Bay.
Successfully Funded SMEs
Deal 1: Empowering Retail Growth: A retail business was looking to expand its operations. Momenta Finance provided a tailored financial solution that facilitated this growth.
Amount: £150,000
Interest Rate: 14.76%
Term: 60 months with 6 months of interest-only payments
Deal 2: Fuelling Manufacturing Expansion: A manufacturing company needed working capital to meet increased demand for its products. Together, Funding Bay and Momenta Finance structured a financing package that allowed the business to seize growth opportunities.
Amount: £250,000
Interest Rate: 15.48%
Term: 60 months with 6 months of interest-only payments
Deal 3: Elevating Service Excellence: A service-based business required funding to enhance its technology infrastructure and improve customer service. Funding Bay and Momenta Finance worked in unison to ensure the company’s financial needs were met.
Amount: £200,000
Interest rate: 16.56%
Term: 60 months
Deal 4: Accelerating Construction Projects: A construction firm urgently needed funds to cover equipment and labor costs for a significant project, Momenta Finance enabled quick access to the necessary capital.
Amount: £120,000
Interest Rate: 21.48%
Term : 60 months
The Vital Role of Strong Partnerships
Funding Bay’s decision to partner with Momenta Finance was influenced by their prior experience working together. Their familiarity with Momenta’s affordability criteria streamlined the initial assessment of potential borrowers. Momenta Finance’s capacity to provide rapid decision-making, exemplary service, and competitive rates made them the preferred lender for these transactions.
Jack commented “Brokers typically want two key things from a BDM, someone who’s knowledgeable on their products and easy to get on the phone, Alex Forster, the BDM at Momenta, embodies both of these exceptionally well. He not only possesses a deep understanding of the products but also demonstrates a keen awareness of what Momenta’s underwriters will and won’t approve. Momenta’s ability to provide swift responses is a tremendous asset. A timely ‘no’ is undoubtedly preferable to a protracted one.”
In the ever-evolving landscape of SME financing, the collaboration between Momenta Finance and brokerages like Funding Bay stands as a testament to successful partnerships. Their consistent support for SMEs in various sectors exemplifies the vital role of a trusted financial ally.
Their dedication to ensuring that businesses receive the funding they require reflects a commitment to the prosperity of SMEs in the UK, cementing Momenta Finance as a reliable presence in the world of SME finance.
Fuelling SME Success with our Unsecured Loan:
Our unsecured lending product offers tailored financing solutions, providing businesses with the necessary support and flexibility they require. This product includes:
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta offers a panorama of lending options, including unsecured and secured business finance, bridging and cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
It is in this context that we highlight a successful Property Development Finance arrangement backed by Matthew Yassin, a 25-year industry veteran and Managing Director at Aquilae Capital Advisory. This collaboration involved a development finance facility of £842,000 with a 16-month term tailored to address specific project requirements. These needs included a refinance of £192,000 and an upfront provision of £100,000 to the borrower. Subsequently, monthly drawdowns of £100,000 will be effectively managed under the guidance of an appointed MS. The scheme was structured with a robust 70% Loan-to-Gross Development Value (LTGDV) and a well-defined exit strategy to refinance onto the Buy-to-Let (BTL) platform, allowing the borrower to retain the units within their portfolio.
Rizvan Raja, the Managing Director of Rizuma Group, who are developer investors focused on land , planning and development projects across London and the South East, faced an unexpected and challenging situation during the ground-up development project. The project had advanced to the slab stage when the incumbent finance provider abruptly pulled funding. This sudden stoppage had dire consequences, which impacted the schedule and progress made by the borrower.
With the construction poised to move forward , the developer was in dire need of a new funding solution to keep the project on track. Faced with the daunting task of finding a suitable funding partner to rescue the project from this precarious situation, Matthew made a pivotal decision to collaborate with Momenta Finance, based on several key factors:
Commitment to Funding: Momenta showcased an unwavering commitment to providing funding, even in the most challenging circumstances, offering a lifeline to the developer in their hour of need.
Commercial Approach: Momenta adopted a commercial approach, recognizing the unique challenges faced by the project and tailoring a solution that met its immediate and long-term financing requirements.
70% LTGDV Product: Momenta offered a compelling 70.5% Loan-to-Gross Development Value (LTGDV) product. This product allowed the developer to refinance from day one, access additional funds, and proceed with the project, regardless of the delays caused by external factors.
Matthew commented: “Throughout the funding process, Momenta Finance exhibited tenacity and a strong commercial approach. They addressed difficult questions and challenges with professionalism and dedication. Owen Fish, a Property Specialist at Momenta Finance, played a pivotal role by actively engaging in discussions, debates, and problem-solving. His contributions significantly contributed to the successful conclusion of the deal.”
The successful collaboration between Aquilae Capital Advisory, Matthew Yassin, and Momenta Finance stands as a testament to the importance of trusted partnerships and innovative financial solutions.
Development Finance Features:
Here’s what you can expect from our Property Development Finance:
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta offers a panorama of lending options, including unsecured and secured business finance, bridging and cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
This financing was provided to a borrower in the automotive industry, with the specific purpose of supporting the launch of a new rental offering.
Moorgate, a well-established commercial finance brokerage since 2015, specialises in providing diverse financial solutions to businesses. Their services range from asset finance and unsecured loans to business protection and residential mortgages. Moorgate Finance aims to be a one-stop-shop for all funding requirements, forging strong partnerships with introducers and asset suppliers.
The borrower, a supplier partner of Moorgate, in the automotive sector, had achieved remarkable growth, even during the challenging economic conditions caused by the pandemic. Recognising an opportunity to diversify their product range and explore new revenue streams, they sought financing to embark on this ambitious venture.
Moorgate considered multiple funding options for their client but ultimately selected Momenta due to the early settlement terms, aligning with the client’s desire to repay the debt quickly without incurring additional costs. Momenta allows for:
Over-payments of up to 10% of the outstanding loan balance annually without incurring any early settlement fees.
No early repayment charge after 12 months.
When it comes to navigating the complex world of commercial financing, experience and flexibility often make the difference between success and disappointment. George expressed his appreciation for the unique approach that Momenta brings to the table, “The beauty of dealing with Momenta, not just in this transaction but in others as well, lies in their unwavering commitment to crafting deals that truly benefit the customer. In an industry where many lenders rely on algorithms and ‘computer says no’ attitudes, it’s incredibly refreshing to work with a team that prioritises a human-led approach to underwriting.”
Tom Shave, the Business Development Manager at Momenta, played a pivotal role in the successful completion of this deal. George shared his perspective “Tom is a true pleasure to deal with. This isn’t my first transaction written with Tom, and across all of our dealings, Tom has always endeavored to keep me updated on where deals are in the process. He has understood any time constraints or quirks in individual deals, and has always been willing to work with us to piece together a deal. As brokers, we are always talking about the need for clear and concise communication with our lenders, and Tom is the embodiment of that.”
Momenta is proud to have partnered with Moorgate Finance Ltd to provide a tailored solution that aligns with the borrowers goals.
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta offers a panorama of lending options, including unsecured and secured business finance, bridging and cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
On-Site Finance specialises in secured and unsecured funding, property financing, invoice finance, and business restructuring. The family business, situated in Alresford, sought working capital to support operational expenses, invest in new equipment, and seize growth opportunities. Initially, they requested a £25,000 loan over 60 months, however, Hannah proposed a £50,000 loan.
Recognising the value of the additional funds, the client embraced the adjustment. Momenta Finance became the preferred choice due to our reputation for competitive rates and flexible terms that aligned with the client’s needs.
Hannah shared her experience, saying, “Working with Alex Forster was a game-changer. His expertise and dedication ensured we could provide our client with the best possible financing solution. The collaboration made a real difference.”
The application process was efficient, and the funding was disbursed within two-weeks of application. Hannah’s collaboration with Alex, her dedicated Business Development Manager, was pivotal in achieving this swift solution. Alex’s deep knowledge of Momenta’s products and commitment to broker support ensured the client received an optimal financing package.
The results of this deal were highly favourable for the client and On-Site Finance:
The client received an unsecured loan of £50,000, surpassing their initial request of £25,000, enabling them to address their working capital needs more effectively.
The rapid turnaround time of two weeks from application to disbursement ensured that the client could promptly address their financial challenges and proceed with their projects without delay.
Hannah’s client was pleased with the seamless process and the professionalism of On-Site Finance and Momenta Finance in handling their financial needs.
The collaboration between On-Site Finance and Momenta Finance exemplified the power of teamwork and expertise in the financial industry. This success underscores the value of tailored financial solutions and efficient service delivery.
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta offers a panorama of lending options, including unsecured and secured business finance, bridging and cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
With a comprehensive range of financing options, Momenta Finance stands out by offering clarity, innovation and a client-centric approach. Our compelling business loans provides SMEs with the necessary funds to fuel their growth, without the constraints of traditional financing options.
Understanding Your Business:
We believe that every business is unique and deserves a financing solution that caters to its specific needs. Our experienced underwriters invest time and attention to thoroughly understand your business, its potential, and its financing requirements. By leveraging this in-depth knowledge, we are able to provide the best possible financing options that align with your goals. From unsecured and secured business loans and business cash advances, our extensive portfolio covers a panorama of alternative finance solutions.
Transparent Lending and Financial Confidence:
We prioritise transparency, ensuring that our clients have a clear understanding of the terms and conditions associated with their financing. With Momenta Finance, you can have the financial confidence to make informed decisions and achieve your business potential. Our commitment to transparency extends beyond the initial stages of lending, as we maintain open communication throughout the process, ensuring you are well-informed at every step.
Streamlined Application Process:
We understand that time is of the essence for businesses, especially when it comes to accessing funds. That’s why we have developed a streamlined application process to make obtaining the financing you need easier and more efficient. With Momenta Finance, you can avoid the lengthy and cumbersome traditional lending processes. Instead, we leverage technology to simplify and expedite the application and approval process. Getting you the funds you require in a timely manner.
Accredited and Industry-Recognised:
We take great pride in our commitment to upholding the highest industry standards. We are accredited by the British Business Bank, a government-owned institution. Which reflects our adherence to stringent regulations and our dedication to providing reliable and trustworthy financial solutions. Furthermore, we collaborate closely with other industry experts to stay ahead of market trends and continuously improve our offerings, ensuring that our clients receive the best possible financing solutions.
We strive to be your trusted partner in helping your business succeed. If you are looking for more than just financing, if you want a collaborative partner who understands your business and shares your vision for growth, we invite you to get in touch with us today.
Our experienced team is ready to work closely with you, offering not only financial solutions but also strategic guidance and support. Whether you need assistance with expansion plans, cash flow management, or navigating the complexities of the business landscape, Momenta Finance is here to help.
Don’t settle for a traditional lender that only sees your business as a transaction. Choose Momenta Finance, a partner who will invest time and attention into understanding your unique needs and provide tailored solutions to help your business thrive.
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta Finance offers a panorama of lending options, including unsecured and secured business finance, bridging loans, and business cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
