Start-up loan boosts training company

Business Finance Services

1st July 2018

Starting & Staying In Business

Business Finance Services

QRB Management Consultants is a training business owned and run by Russelll Parker, a well-known networker in the Northampton and Daventry area.

The company specialises in providing project management and service management training with a particular emphasis on the practical side of the course. Having carried out training for other companies for some time, Russell realised that there were better ways of getting the message across. He therefore decided to take the plunge and set up his own business.

To begin with Russell used his own funds but, as many of us know, setting up your own business is not a quick or cheap affair. Following discussions with us at Business Finance Services it was agreed that we should put together an application for a start-up loan. During a presentation made by Lewis Stringer of the British Business Bank at our last BFS seminar, he had explained about the availability of a range of finance options that are now available to SMEs, both established and start-up. This finance is provided under the MEIF (the Midland Engine Investment Fund).

It was decided that we would submit an application for the start-up loan. This involved the production of a basic business plan and associated forecasts, a fairly straightforward process. These, together with an application form were then submitted on QRB's behalf by BFS.

The good news is that the application was accepted and funds have now been drawn down. The whole process took only six weeks. Russell now has his funds and is working hard to grow his business with its emphasis on practical as well as theoretical training.

The lesson from this is that more funds are being made available for SMEs that have a genuine and provable business need. What is important is to know which is the most suitable source of finance and how to put together an appropriate application. This is where BFS can help. It is what we do, and nothing gives us greater pleasure than helping companies such as QRB to grow.

To learn more call us on 0800 093 5240 or e-mail enquiries@bufinserv.co.uk It costs nothing to ask!

Business Finance Services