Lancashire Community Finance
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Business Loan

Delivering the Goods

Mr G was working as a sales representative selling sweets and confectionery to shops in the North West. He was so successful that he decided to go it alone, buying sweets and confectionery wholesale to sell on to small, independent shops in Preston.

To set up this new venture he needed to purchase stock and delivery vans and find warehouse facilities.He managed to obtain an overdraft facility from his bankers and used hire purchase  to finance a long wheelbase van, but to really get the business moving he needed working capital.

Wisely, he decided that he would not use his high interest credit card to finance the working capital. Instead, he responded to a Lancashire Community Finance leaflet that his wife had come across by chance in a community centre in the Avenham area of Preston.

When Mr G came to see us, we were impressed with his business projections, which showed that his business would be able to repay a business loan from Lancashire Community Finance.

Operating from a warehouse in the Avenham area, Mr G provided local businesses with a valuable service whilst creating employment in the area.

Supporting Innovative ideas
Mr H was a third year student at UCLAN, living at home with his parents.He wanted to become the North West agent for  new advertising medium, but his bankers were not able to give him a loan. Instead, they referred him to Lancashire Community Finance.

When Mr H approached us he had already researched his target market, produced a well thought out business plan and secured orders totalling £20,000 for the hire of the advertising system. He had also managed to arrange a deal with a finance leasing company to lease the advertising system from the manufacturers, but he needed further finance to purchase a van so he could take the machine to his clients. Without transport, the business could not get off the ground.

After meeting with Mr H, talking to him about his idea and looking at his business plan, we were convinced that the business had a very good chance of success. We granted a loan of £3,500 to help him purchase a van. The business enjoyed a full order book for its first summer and since then has gone from strength to strength.