Funding growth is a fact of life for small businesses but is daunting, thanks to perceptions that it’s only available for big businesses and large amounts.
However, business funding expert Darren Peacock, of Peacock Finance, knows that, for some, a couple of thousand pounds can make a big difference. So, in 2018, he co- founded the Business Booster Fund to offer small loans to East Yorkshire companies.
“I’ve dealt with projects worth millions but recently noticed a real gap where smaller businesses were missing out on golden opportunities because they couldn’t access relatively modest amounts of cash.
“Unfortunately, many seek to plug this gap by taking out personal loans to fund improvements, but that affects their personal credit score and ability to source loans including mortgages, so it’s always better to keep your business and personal finances separate.”
For Darren, the new Fund is also about giving something back.
“I’m interested in people’s business journeys and it’s a privilege to help them on their way by making quick decisions to hand them some cash,” he concluded.
The Business Booster Fund offers unsecured loans of up to £5,000 over up to 36 months for a set monthly interest payment of £25 per £1,000, for specific projects or purchases that will help companies succeed or get to the next level.
Examples so far have included enabling a time lapse photographer to triple his income by buying three new cameras for renting out, and a plumber to purchase a set of new tools.”
For further information contact Darren at [email protected]