Expanding Your Soft Play Business: The Next Best Step for You
A well-established commercial and residential property business came to Animo seeking to find a flexible way to fund soft play equipment to install into one of their customer premises in a shopping centre.
The Highlights
✅£250,000 funded for soft play equipment
✅Funds released within 24 hours of terms agreed and agreement signed
✅Bespoke rate agreed beating all competitor offers given
The Challenge
The customer struggled to find a suitable lender that can pay the funds out quickly and had settlement terms. Most people suggested asset finance to the customer. This wasn’t ideal as lenders would not release all the funds until install complete and would charge almost full interest if settled early. Also underwriting times for asset finance was not quick enough. The customer also had no previous experience or presence in the soft play sector.
The Solution
Animo Business Finance were able to secure a £250,000 loan funded for soft play equipment. With a bespoke rate beating any offers the client had received in the market. Along with a bespoke non-standard settlement terms allowing the customer to settle the facility before the end of the term but after the first 12 months and only pay interest up until the month of the settlement. The deal required no formal charges against any commercial or residential properties, only a personal guarantee from the director and a cross company from holding entity. Funds were released to the customer within 24 hours once terms were agreed and the agreement was signed.
The funding made it possible for the business to pay their supplier of soft play equipment; get it installed and open its doors to the public. The customer can also settle the facility early and save tens of thousands in interest further helping the business grow.
Give us a call on 0333 880 2912 or head to Contact Us | Animo Business Finance to start the conversation.