NexGen is on a mission to revolutionise the business finance industry. More than just a brokerage, their goal is to be dedicated partners and lifelong consultants offering personalised solutions to their clients.
Taylor Nolan has worked with MaxCap for several years. “We do a lot of unsecured short-term funding so it’s crucial that we have reliable lenders on board with us who can offer this from day one,” he explains. “Our clients are looking for quick turnaround decisions, typically within 24 or 48 hours. But we also need to offer competitive rates. MaxCap’s early repayment options are pioneering. A lot of the market is quite outdated on that front. You know, a 12-month loan can only be paid off in that time frame so with 12 months of interest payments. MaxCap’s early repayment facility is a ground-breaking offering and something that is absolutely crucial for us in terms of what we want to be able to offer to our clients.”
Many of NexGen’s customers are in a space where they’ll probably need funding for a period of just three or four months at a time. So, the high premium of traditional short-term borrowing fixed over 12 months makes most funding options very expensive for them. Taylor explains, “We love the early repayment possibility with MaxCap. Being able to settle earlier and effectively make a saving is a major bonus. Customers love it.”
Taylor is also enthusiastic about MaxCap’s underwriting flexibility. “It’s quite different to a lot of other lenders who have been operating for a long time. MaxCap is willing to consider newer, younger businesses which is great. They don’t necessarily need to have two years of trading records to be considered. The team at MaxCap will look at revenue, not just annual accounts. So, if a customer has had a really good six-month period but their 12-month accounts show a different picture, MaxCap will pay attention to those six-month bank statements. Many other lenders wouldn’t take this into consideration.”
NexGen works with all types and sizes of businesses, from smaller ones looking for just £10-15k loans to help with acute cashflow, or to buy stock for an upcoming busy period, right up to bigger, multi-million pound companies needing £100-200k loans to help with a tax bill. Taylor concludes: “It’s great to be able to offer MaxCap’s flexibility to all these potential clients.”
To find out more about NexGen please visit wearenexgen.co.uk
About MaxCap
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.