Northwest Business Funding – The Story
Northwest Business Funding was formed in 2016 by a team of professionals who have a wide range of experience in the market of small and medium-sized enterprises and construction.
Having seen first hand from both sides of the equation, the challenges when raising business funding, we realised there was a gap in the market. We saw that many businesses do not have the experience of the new lending markets, with the recent upsurge in emails and text messages for easy cash, how do you decide who is real and who is not.
To be confident of protection against unqualified brokers, at the very least the business should be FCA regulated as a commercial broker.
Some brokers will send out your application to many funders, focusing mainly on getting your loan request funded and their commission paid.
This trawling can or may affect your credit rating and often can damage the business name. An example we were able to recover, saw our client had already been rejected by 16 Lenders even though they spoke to one brokerage company.
On investigation, the reason for rejection was lack of prepared application, and the broker had only pushed skimp information out into the markets.
Northwest Business Funding did recover the situation, and our client raised £100,000.
With a growing supply and growing demand for business funding, the SME sector is abundant with offers. Northwest Business Funding understands the complex nature of businesses and also the complex nature of the lenders. We saw the need to create an option for companies that would ease the burden and improve success rates by providing a professional service delivering value.