Recruitment specialists Quay Personnel source and supply staffing solutions for both permanent employment and temporary contract requirements.
When funds were required to extend their office in North Tyneside, Managing Director Jonathan Stokes began to contact several banks to find out what funding would be available.
Following a recommendation from Harlands Accountants, Jonathan approached Gateway Commercial Finance to discuss funding.
Gateway Commercial Finance Finance Managing Director Simon met with Jonathan to find out more about Quay Personnel. During his initial visit, Simon learnt about plans to extend the office and grow the business. Knowing more about the aims of the company, Simon was then able to recommend crowdfunding as the best funding solution for the business.
Crowdfunding connects established businesses looking to borrow money with investors who have money to lend. Obtaining finance in this way tends to be quick and easy.
Gateway Commercial Finance worked closely with Jonathan to put together a plan which would demonstrate the funding requirements of the company, as well as the aims of the business.
Following the submission of the funding application, Jonathan received notification of a successful application after a number of hours.
Since receiving the funds, Quay Personnel has been able to complete work on the building extension, restructure the business, outsource payroll to free up the time and resource of staff and employ two new members of staff.
Within a month of receiving the funds, the business had become more streamlined and turnover had increased considerably.
Jonathan Stokes said: "Having Gateway Commercial Finance to help us through the process was easier than dealing with Funding Circle directly. Simon and his team used their great knowledge to complete our application and our funding was guaranteed in a number of hours. I would recommend Gateway Commercial Finance to anyone."