Working alongside Gemma, an Associate Director at On-Site Finance, we were able to facilitate a £200,000 Unsecured Business Loan for a prestigious London-based law firm. This collaboration underscores our dedication to providing flexible, client-centric financial solutions, enabling the firm to manage and expand its litigation portfolio.
The Challenge
Faced with the opportunity to expand their caseload but constrained by the costs of current litigation cases, the firm found itself seeking a financial solution that would enable them to navigate through this period of potential growth.
Additionally, the firm expressed a specific need for a loan structured to provide financial breathing room. A key requirement was the inclusion of an interest-only period
The Solution
In response to the firm’s unique requirements, we structured a £200,000 unsecured business loan over 36 months with a 6-month interest-only period. This financial arrangement was designed to provide the law firm with the necessary flexibility to effectively manage both current and future caseloads without the immediate financial pressure of standard loan repayments.
The Momenta offer stood out, owing to its competitive terms, the interest-only period, in particular, provided the breathing room necessary for the firm to manage cash flow, allowing them to allocate resources more efficiently across their portfolio of cases.
On-Site Finance serve as intermediaries between businesses seeking funding and lenders who can provide the necessary capital. OnSite play a crucial role in facilitating the financial needs of companies by connecting them with appropriate funding sources. In a dynamic and complex financial landscape, their team provide market insights, and a personalised approach to help businesses secure the funding they need to grow, innovate, or manage their operations.
This month, we’re shining the spotlight on two deals that were introduced to us by Aureum Finance, an independent finance broker that specialises in property and business finance. Wayne and Nick Kelly, Financial Consultants at Aureum Finance worked alongside our Sales Director, Tom, to find the right solution for two of their clients – a food manufacturer and digital marketing agency. Our flexible unsecured business loan was adapted to meet the needs of both clients.
Digital marketing agency expansion
A London-based digital marketing agency, aiming to broaden its services by acquiring a complementary business, faced the challenge of needing a £200,000 business loan with flexible terms. Amidst a highly competitive market with multiple offers, we were able to secure the deal based on our competitive terms.
The Solution:
We provided Nick’s client with an unsecured business loan tailored to the agency’s needs, featuring a 60-month term without any penalties for early repayment. This financial solution empowered the agency to confidently proceed with its strategic acquisition, facilitating its expansion goals.
Managing the cash flow of a sole trade
A sole trader in Northern Ireland, leading a long-established family business in the food manufacturing industry, needed a business loan to manage cash flow and acquire stock.
The Solution:
A £50,000 unsecured business loan over 48 months. This deal demonstrated the effectiveness of our swift application-to-funding process, highlighted by Wayne’s keen understanding of his client’s requirements. Thanks to a thoroughly prepared application, the borrower received the necessary funds within 48 hours of applying.
Thank you to Wayne for bringing these opportunities our way. With several deals currently in our pipeline, we are looking forward to a continued partnership with Aureum Finance.
Aureum Finance was founded in 2018 by Dean Brown, an investment manager with over 20 years experience. This experience provided access to diverse funding sources and strategies, allowing Aureum’s team to offer specialised services. Aureum Finance is an independent finance broker that specialises in all forms of property and business finance. Their team covers every sector of the market. Working with select partners, Aureum, assist with personal finance and insurance in order to provide clients with a full-service offering.
Daniela Cunningham joined us in 2014 originally as a credit underwriter, today she serves as the head of financial operations. Daniela’s analytical abilities, coupled with an unwavering commitment to ongoing learning, have played a critical role in our growth and success to date.
Jon Stern, CFO of Momenta Finance commented, “She is often the one to step in and ensure continuity, whether during a colleague’s leave or when gaps appear in the workflow”. Daniela’s proactive nature and holistic understanding of our operations has ultimately led to the formation of her current role, a synergy of underwriting, accounting, and collections.
Since our inception in 2013, we’ve watched both Daniela and the company evolve. From FCA authorisation in 2017, throughout the technological leaps with CL Originate and CL Loan and even during British Business Bank accreditation Daniela has embodied our own approach to diverse and adaptable financial solutions.
Throughout our expansion over the last decade, Daniela has been a driving force behind significant operational enhancements. Her innovative contributions, especially in improving our loan payout processes and co-developing our CL Loan module, have been crucial in reducing risk and safeguarding our financial health.
Daniela’s personal mantra, inspired by her father’s guidance, is that nothing is impossible with the right mindset and motivation. She champions this belief, encouraging young women in finance to take on complex challenges and advance their expertise.
Looking to the future, Daniela anticipates further integrating automation into our processes while maintaining the personal touch that distinguishes our customer service. Her strategic outlook not only aims to enhance our team and operations but also ensures we remain a pioneer in the financial industry.
Momenta Finance is proud to announce its participation in the newly unveiled Growth Guarantee Scheme. The scheme is an extension and rebrand of the Recovery Loan Scheme, as announced by the Chancellor in the 2024 Spring Budget. This initiative, managed by the British Business Bank, is designed to provide crucial support to the UK’s small and medium-sized enterprises (SMEs).The Growth Guarantee Scheme aims to facilitate increased access to finance for smaller businesses by offering a 70% government-backed guarantee to participating lenders on loans up to £2m. This move is expected to support approximately 11,000 businesses from 1 July 2024 to 31 March 2026.
Under RLS, businesses meeting specific criteria, including a turnover of up to £350,000, a minimum of three years’ trading experience in the UK, limited company status and a commitment to using the loan for business purposes such as working capital or investments, will be eligible to apply. Importantly, applicants should not be facing financial difficulty or be involved in ongoing collective insolvency proceedings.
Momenta Finance’s CEO, Luke Jooste, stated: “We are committed to providing businesses with the financial resources they need to thrive. We will explore every avenue to offer favourable terms to our valued clients.”
In addition to Momenta Finance’s commitment to favourable terms and access to essential funding, the BBB expressed its support for the expanded RLS offering through Momenta Finance.
Amanda Hardy, Head of Capital Markets at Momenta Finance, played a pivotal role in securing the accreditation and funding line required for the scheme. She shared her insights, saying: “Securing our participation in the Recovery Loan Scheme was a significant achievement. We believe in the strength of UK businesses and are excited to be in a position to provide them with the financial support they need to grow and manage working capital going into the new year.”
Momenta Finance is now accepting applications for the Recovery Loan Scheme. Businesses that previously obtained a Coronavirus Business Interruption Loan Schemes (CBILS), Bounce Back Loan (BBLS), or RLS facility before June 30, 2022, are not restricted from accessing the latest version of the scheme. However, the maximum borrowing amount may be subject to certain adjustments.
RLS from Momenta Finance
Loan Amount
Up to £250,000 unsecured Up to £750,000 secured*
Loan Term
Up to 60 months
Security
Legal property charge
Personal Guarantee
Yes
Over or early repayment:
No early repayment charges after 12 months.
Business Finance Support
The British Business Bank has a range of guidance and resources available to all businesses, including content on managing your cashflow and a list of independent advice services.
The Recovery Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit http://www.british-business-bank.co.uk/recovery-loan-scheme
Momenta Finance Secures a New Funding Line from HSBC to Fuel Growth in its Lending in the UK Property Market
Luke Jooste, CEO of Momenta Finance and former head of Property Finance at Barclays Business, who now leads the seasoned property team at Momenta Finance, shared his perspective on this milestone: “Launching a product of this nature, and securing this funding line from HSBC, in such turbulent times is a testament to our strong belief in the potential of the UK property market. Our revamped Bridging Loan product is designed to meet the diverse needs of borrowers, providing flexible and competitive financing options for refurbishments, equity releases, development exits, and property purchases across the UK, including Scotland, Wales and Northern Ireland.”
In light of the current market challenges, this achievement signals a robust vote of confidence in the UK property market and Momenta Finance’s resilience. The product, and requisite funding, is a critical step in expanding the company’s existing offering and underscores its role as a highly credible and dependable financier in the property sector.
Jake Trehaeven, a key member of the Capital Markets team at Momenta Finance, expressed his perspective on market trends: “With the anticipated easing of central bank rates, Momenta Finance has positioned itself to play a key role in facilitating an increase in activity across the UK residential property market.”
Key features of our revamped Bridging Loan product:
Loan amounts: range from £200,000 to £5 million, with durations extending up to 24 months.
Designed for a variety of needs: refurbishments, equity releases, development exits, and acquisitions.
Interest: variable interest rates linked to the SONIA rate. Interest can be rolled up or serviced throughout the loan term.
Benefits: No early repayment fees for added client flexibility.
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.
Momenta Finance demonstrated its commitment to supporting business growth by providing a substantial unsecured business loan of £250,000 over 60 months.
The Opportunity
A family-run day nursery in Weybridge, a longstanding client of Bluestone, was poised for significant growth with the planned opening of their fifth nursery. Since its inception in 2018, the nursery has grown steadily, establishing a strong presence in the community. However, this growth opportunity brought with it the challenge of securing sufficient funding to cover essential costs such as decorating, staffing, and other project-related expenses.
The Approach
The nursery initially approached Bluestone for asset finance, however, it quickly became apparent that their financial needs extended beyond initial expectations. The nursery required additional support for decorating and recruitment costs, as their capital reserves were being rapidly depleted.
Recognising this, Bluestone, with its vast experience in delivering bespoke finance solutions, identified the necessity for a more comprehensive financial strategy to adequately support the client’s expansion ambitions. James Lewis, Bluestone’s Loans Specialist, selected Momenta for their proven capacity to comprehensively fund multifaceted projects, especially under tight time constraints.The solution involved structuring an unsecured business loan that would cover the remaining project costs. The loan was tailored to fit the nursery’s repayment capabilities, ensuring financial sustainability. Momenta’s expertise in handling complex funding requirements under time pressure was instrumental in this phase.
The Result
The business loan enabled the nursery to successfully manage its expansion costs and open its fifth location on schedule. James commented “Jake was always available and happy to help – he always had the information we needed and provided updates regularly to everyone involved which helped make the process a lot smoother. Any issues that arose were dealt with efficiently preventing any further delays to an already time-pressured project. I really look forward to working with Momenta Finance again.”
About Bluestone
Bluestone, an award-winning independent broker with over 27 years of experience, specialises in providing bespoke finance solutions to UK businesses. Renowned for their consultative approach, they excel in building long-term relationships with clients, supporting their growth through a range of financial specialisms. These include asset finance, vehicle finance, and cashflow loans.
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.
Working capital is the lifeblood of any business, and for SMEs, it holds even greater significance. It represents the operational liquidity needed to cover day-to-day expenses, manage inventory, and seize growth opportunities. Adequate working capital ensures that businesses can meet short-term obligations, maintain a healthy cash flow, and navigate unforeseen challenges. Here are some key reasons why working capital is a must for SMEs:
Smooth Operations: Having sufficient working capital enables SMEs to smoothly run their day-to-day operations, from paying suppliers and employees to covering utility bills and other operational expenses.
Adaptability: In today’s rapidly changing business environment, adaptability is key. Working capital provides SMEs with the flexibility to respond to market fluctuations, seize unexpected opportunities, or weather sudden downturns.
Growth Opportunities: For SMEs aiming for expansion, having ample working capital is essential. It allows businesses to invest in new projects, launch marketing campaigns, and explore new markets without disrupting their existing operations.
Momenta Finance: A Partner in SME Growth
Understanding the critical role of working capital for SMEs, Momenta Finance offers a range of tailored financial solutions to meet the unique needs of small and medium-sized enterprises. Among their offerings are unsecured and secured business loans, as well as a cash advance option, each designed to empower SMEs on their financial journey.
Unsecured Business Loans:
Momenta Finance’s unsecured business loans provide a hassle-free financial solution for SMEs. Without the need for collateral, businesses can access the capital they need quickly, allowing them to address pressing financial needs without putting their assets at risk.
Secured Business Loans:
For SMEs with assets to leverage, Momenta Finance offers secured business loans. These loans provide a higher borrowing limit and more favorable interest rates by using assets such as a commercial property as collateral. This option is ideal for businesses looking for larger capital injections and are comfortable securing their loans with valuable assets.
Cash Advance:
Momenta Finance’s cash advance option provides a unique solution for businesses with consistent credit card sales. By offering a lump sum payment in exchange for a percentage of future credit card sales, this option allows businesses to access immediate funds based on their anticipated revenue. This can be particularly beneficial for SMEs experiencing seasonal fluctuations or those in need of quick working capital.
Case Study: A Healthcare Transformation Fueled by Working Capital
A healthcare SME specialising in supporting vulnerable individuals secured an unsecured business loan of £100,000 from Momenta Finance. Over 60 months, this working capital injection was strategically employed to upgrade security, technology infrastructure, and overall safety measures. The tangible impact was immediate, enhancing daily operations and fostering a technologically advanced and secure environment for both residents and staff.
In the competitive world of SMEs, effective financial management is the key to survival and growth. Working capital stands as the linchpin of this management strategy, ensuring businesses can navigate the complexities of their operations. With Momenta Finance’s suite of financial solutions, SMEs have a reliable partner to turn to. Whether through unsecured or secured business loans or the flexible cash advance option, Momenta Finance empowers SMEs to take control of their working capital, fostering a pathway to sustainable success.
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 rebrand from Merchant Money to Momenta Finance, we’ve not only embraced a new identity but also signified our commitment to evolution and progress.
Business Highlights
One of the cornerstones of our success this year has been the securing of two major funding lines, a testament to the trust and confidence our partners have in us. Barclays Bank PLC and Quilam Capital extended a substantial £115 million funding line, allowing us to enhance both unsecured and secured business loans, as well as offer a highly competitive bridging loan option with an additional £50 million funding line from a reputable bank.
In a bid to enhance user experience and streamline our services, we successfully launched an improved broker portal and decision engine. This technological advancement has not only simplified the application process but also enabled us to provide faster feedback, immediate indicative pricing, and real-time notifications to brokers. A staggering 75% of all our deal submissions now come through brokers via the portal, contributing to a remarkable 145% increase in originations.
In the period from 01 January to 30 November 2023 Momenta Finance experience a 55% growth in assets under management. The diverse nature of our lending is reflected in our strong support across multiple sectors, contributing over 5% to our assets under management. These sectors include Manufacturing and Engineering, Non-property construction & development, Professional and Business Support, Small builders/construction, Wholesale, and Property development. This robust and diversified portfolio not only underscores our commitment to meeting the unique financial needs of various industries but also solidifies our position as a trusted partner in the ever-evolving landscape of financial solutions.
The dedication and hard work of our sales team did not go unnoticed this year. We were honored to be shortlisted for the Unsecured Lender of the Year at the NACFB Lender Awards. Additionally, our team actively participated in various industry events, including broker end-of-year lunches, the Goodwood Car Festival, and numerous conferences and meet-the-funders sessions.
Team Growth and Personal Milestones
Momenta Finance is not just a business; it’s a family. This year, our team expanded with the addition of Jeremy as a Sales Director, joining Tom in leading our sales efforts. We also welcomed Kim to the credit team, contributing her expertise to our underwriting department. Amidst professional growth, our team celebrated personal milestones as three members prepared for parenthood.
The successes and challenges of 2023 have strengthened our resolve to innovate, grow, and continue delivering exceptional financial solutions. We express our heartfelt gratitude to our introducers, partners, and clients for their trust and collaboration throughout the year.
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.
In the midst of the year-end hustle, SMEs need financial solutions that offer agility, flexibility, and the capacity to propel growth. This is where unsecured business loans come into play. Serving as a strategic catalyst that empowers businesses not only to navigate the challenges of the season but to thrive in the process.
Advantages of a Unsecured Business Loan
Quick Access to Funds: In the ever-fast-paced business landscape, time is of the essence. Unsecured business loans offer SMEs a swift approval process, providing quick access to the capital needed without unnecessary delays. This agility can be a game-changer, especially during the year-end rush, allowing businesses to meet demand promptly and stay one step ahead of the competition.
Flexible Repayment: Flexibility in financial matters is a precious commodity, and unsecured business loans deliver just that. With repayment terms tailored to align with the ebb and flow of your cash flow, SMEs can navigate the challenges of the year-end season without being hampered by rigid payment structures. This flexibility empowers businesses to focus on growth and performance.
Maintain Cash Flow: Safeguarding the smooth operation of a business requires a delicate balance, especially during busy periods. Unsecured loans act as a financial buffer, allowing SMEs to cover essential expenses and meet increased demand without depleting cash reserves. This strategic approach ensures that cash flow remains healthy, enabling businesses to operate seamlessly.
Seize Growth Opportunities: Year-end isn’t just a time of increased demand; it’s also a window of opportunity for growth. Unsecured business loans provide the financial backing needed to seize these opportunities. Whether it’s expanding product lines, launching targeted marketing campaigns, or enhancing online presence. This proactive approach ensures that businesses can propel forward and finish the year on a high note.
Invest in Inventory: A well-stocked inventory is a cornerstone of year-end success, especially when gearing up for holiday demand and capitalizing on sales. Unsecured loans offer the financial support necessary to invest in and replenish inventory, positioning businesses to meet customer needs and capitalize on seasonal trends.
Cover Seasonal Staffing: Unsecured loans provide the means to hire seasonal employees without straining payroll budgets. This flexibility ensures that businesses can scale up their workforce to handle the year-end rush effectively.
Unsecured Business Loan
As we approach the bustling year-end season, SMEs are encouraged to consider the strategic advantages that business loans can bring. Quick access to funds, flexible repayment terms, and the ability to seize growth opportunities are just a few of the benefits that can significantly impact a business’s success. In the dynamic landscape of year-end challenges and opportunities, unsecured business loans emerge as a valuable tool for SMEs looking not just to navigate but to thrive.
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.
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.
