Alternative finance allowed my business to deliver nationally!
Elaine Hakim accessed alternative finance from Quick Capital to purchase a reliable vehicle so her business could deliver products nationally.
When Elaine first started her business, Hullaballoon, she intended on creating balloon displays from home. After her first exhibition event, she was inundated with calls from potential customers, and decided to open a small shop in Hull.
Over the past ten years, the company has expanded, now operating two shops and catering to large corporate customers. Thanks to Quick Capital’s alternative finance solution, Elaine is now able to deliver large balloon displays around the UK.
“When I first heard about Quick Capital’s form of alternative finance I thought it was a great idea. I decided to apply for my first cash advance at the start of 2016, to help increase my stock levels.
Over the next year, I accessed further alternative finance by topping up my cash advance to purchase more stock and improve the company’s cash flow.
We supply balloons for a lot of corporate events around the Hull area, with some big national customers on our books. A new company, with branches across the country, asked me to supply balloons for their stores, however I was only able to commit to providing a service in the North East of England.
I decided that we needed a reliable van that was large enough to transport big balloon displays, to help expand Hullaballoon’s sales reach. This would allow us to attract larger corporate clients, and increase our profits.
I chose to use Quick Capital’s alternative finance method to purchase a vehicle without having to save up for months. It was quick and easy to apply and I received the money I needed to buy the perfect van within a few hours. We also paid to have it wrapped, to help us promote the business when we’re making deliveries. It’s so bright and colourful, you can’t miss it!
We’re now able to deliver large balloon displays around the country for corporate events. In the next month alone I’m supplying balloons to businesses in Warrington, Manchester and Newcastle. The van is even big enough to transport my candy cart, allowing me to advertise this service further afield.
I find the repayments manageable, when I have a great week I pay off a large chunk of my advance automatically. What’s more, it never takes too long to repay with this method of alternative finance. I received my most recent cash advance in January 2018, and have managed to repay 40% of it in just two months!
There’s a lot of competition in the area, mainly from people who work from home. As I run two shops, I have a lot more overheads, however I provide a top-quality product. Having such easy access to a flexible alternative finance solution reduces cash flow fears when running my small business!”