Funding Options by Tide is the UK’s leading business finance marketplace. They connect SMEs with over 120 lenders that provide everything from short-term working capital to longer term unsecured loans. Ryan Ciecko is a Strategic Partnerships Manager there, and describes the successful relationship with MaxCap, which has been growing for several years.
“MaxCap offers some truly unique benefits, including very fast turnaround times and the ability to make offers to SMEs that have a minimal trading history.” Ryan explains: “For example, there are scenarios where businesses would fail affordability checks with high street lenders or even large alternative finance providers, because of the more restrictive attitudes towards affordability measures and debt-service coverage ratios. However, MaxCap works to get a deeper understanding of a business, to really identify the opportunity and potential that lies ahead, and the return on investment from the capital. This is something we experience frequently when working with MaxCap.”
“The SMEs Funding Options by Tide helps vary from small start-ups right through to established businesses. Some lenders on our platform require a minimum of three years trading to even be considered for funding. What’s notable about MaxCap is that they’re willing to look at much younger businesses and take the risk into consideration. Most loans converted with MaxCap are between £20k and £50k, but we have had larger loans as they offer up to £200k. They also approve loans at competitive rates for businesses who require an immediate cash injection to expand,” Ryan continues. “That is where MaxCap comes first in mind.”
Ryan also praises MaxCap’s flexibility. “There are more options with repayments,” he explains. “MaxCap works closely with our team to identify how we can improve the offering for SMEs.”
“Another thing our team really values is that we get exact decline rationales from MaxCap on each application. This enables us to learn from those experiences and understand what to look out for when working with newcomers.”
A further advantage, Ryan concludes, is simplicity. “There are easy, straightforward payout steps. Once our member accepts MaxCap’s offer, a very simple process to draw down the funds is started to get them into the business’ account, which helps us keep the member happy.”
To find out more about Funding Options by Tide please visit fundingoptions.com
MaxCap has established itself as a leading provider of business loans for small and medium sized businesses in the UK. With a combined 30+ years of industry experience we are able to identify the requirements of each business and determine the finance that best suits their needs to thrive and grow. We work hard every day to provide small businesses with fast access to capital. Our dedication to excellence coupled with our advanced technology enables easy and accurate decision making that allows an application, approval, and funding to all take place the same day.