Success Story

Growth through alternative funding

It’s not an urban myth! Alternative funding can be sourced to grow your business. Here’s how Hallidays supported iControl to access alternative funding to expand the manufacturing of their innovative football training aid.

Before:

Their product the ‘Football Flick’ was in demand from existing retail customers and potential new customers so stock production volumes needed to be increased.

Changes in manufacturer would allow for an increase in production capacity but funding was at a premium for new stock levels.

Uncertainty as to how the new funding and the product demand would impact on cash flow.

Mainstream funding was dependent on there being fixed asset purchases in place, so an alternative solution had to be sought.

After:

Hallidays introduced the directors to a credible funding alternative who they have a strong working relationship with.

We helped to facilitate meetings with the funding representatives and negotiate fees to secure the best terms possible for iControl.

We provided viable forecasts which included profit and loss, balance sheet and cash flows showing how the business would look after the funding was received so our client could move forward confidently with a sound business plan. These numbers went forward towards the loan application.

Hallidays also liaised with funders to ensure the application progressed, which helped reduce the stress and worry for the business owners.

Outcome

With Hallidays support, iControl received the funding they needed to grow their business. This enabled the business to produce the necessary stock volumes, allowing them to create great opportunities both in the UK and abroad.

iControl are delighted as this has enabled them to look at creating new job opportunities as the business continues to grow.

iControl’s thoughts…

We utilise Hallidays’ expertise in negotiating with finance houses. This along with the production of the finance models has helped us raise the finance to move our business to the next level. This has undoubtedly contributed to the growth and development of iControl.

Gareth Hodskinson Chief Executive Officer - iControl
Awards