This is a story about a MK based, family business seeking growth funding.
Before sitting down with the Response Team, they had been repeatedly rejected by the mainstream lenders - a not so unfamiliar narrative to many of those reading.
Particularly where new start-up businesses are concerned, this is typically what the vast majority of small and medium sized businesses face when searching for a funding source.
MK Dart and Stephen Farr both came to our attention when the latter posted what could best be described as a 'plea' for financial assistance on LinkedIn. We don't remember who referred his Post to us but we do remember reaching out to him by way of a personal message, getting an acknowledgement of receipt and then...a long silence.
A few weeks passed and we sent a further message but still nothing. We were intrigued by why he'd responded initially and then ceased all contact.
After doing some research we found out that the business was only a couple miles from our base in Wolverton and decided to go out there ourselves and take a look.
It was as we expected. A family-run business with all hands to the pump. Stephen had simply been too busy to get back to us. A member of our team gave Stephen his address and invited him to his home for a "sit-down" at a date and time of his choosing.
What we found was a profitable little business with aspirations to expand and put some requisite contingencies in place. Stephen mentioned that he had personally experienced a mix of good and bad times in his past and that the latter had affected his ability to obtain finance.
This is Stephen's story: -
I started MK DART (Milton Keynes Domestic Appliance Response Team) in September 2015 after being forced to give up a successful career in sales dueto family issues that year. This had an adverse effect on my credit rating.
I have always had to work hard for what I wanted and starting MK DART from scratch
was no exception. After two and a half years, I built a company where my wife looks after the accounts, Steph (our admin lady) arranges the bookings and I am out in the field, working alongside our apprentice (Jack), on a full-time basis.
The business had reached a ceiling of where I could get it to. Taking time to train Jack was slowing me down. I needed to get him trained and have him generating revenue for the business rather than being an additional cost.
After requesting assistance on LinkedIn, Matthew Stapleton from Response Business
finance contacted me. The ‘can do’ attitude of Matthew and Mark at Response Business Finance was second to none. They took the time to sit with me to discuss my business, my future plans and eventually came up with a solution that has enabled the business to expand.
Jack has since been booked to attend a training course in June which will give me the freedom to concentrate on growing the business and building partnerships with local landlords, housing developers and even the local council with our new ‘ABC’ initiative.
CONTINUE TO FOLLOW DEVELOPMENTS IN THE MK DART STORY HERE ON OUR NEWSFEED...