How Fleximize Helped a Dorset Holiday Resort

Caroline Newling-Ward landed a business loan with Fleximize to cover the cost of essential maintenance at Lancombe Country Cottages & Lodges, which she has been running since 2013

 

Key Details

The business

Trading for: 3 years

Sector: Hospitality

Location: Dorset

Reason for funding

Refurbishment

Solution

- Unsecured business loan

- Fixed repayments

- £10,000 over 12 months

Results

- New boiler installed

- Renovations to accommodation

A weakened pound has made the ‘staycation’ an increasingly popular holiday option for British families, while slashing the cost of a trip to the UK for overseas visitors. On the surface, this is great news for the UK tourism industry, but with thousands of people offering up their properties on Airbnb, it’s never been more challenging for traditional holiday companies to attract customers.

Escape to the country

Set in the heart of the stunning Dorset countryside, and only a short drive from the Jurassic Coast, Lancombe Country Cottages & Lodges relies on first-class customer service to stand out from the crowd. The complex of cottages, lodges and luxury shepherd huts was opened in December 2013 by Caroline Newling-Ward, who’d previously spent 20 years working in the financial services sector.

When Caroline first acquired the site for Lancombe Country Cottages, the majority of the buildings were in desperate need of renovation. She has since transformed them into a collection of beautifully presented holiday homes, which suit the requirements of small and large families alike, with additional facilities including a heated indoor swimming pool, games room and outdoor play area.

Lancombe has also created its very own fairy trail in the surrounding woodland, offering children the chance to search for fairies and leave letters in their homes, in the hope of receiving a response.

Home comforts
Home comforts :

Lancombe Country Cottages offers luxury accommodation in idyllic surroundings

A helping hand from Fleximize

Despite running a thriving business, Caroline has had to deal with a few unforeseen expenses, a common challenge for any company.

In January 2017, after receiving a recommendation from a Dorset-based funding company, Caroline applied for an unsecured business loan with Fleximize. She explained that the funding would help cover the cost of some essential maintenance, including the installation of a new boiler. Caroline had initially approached her bank, with whom she had an existing finance facility, but was unable to secure the additional funding she required due to a change in the bank’s lending metrics.

Understanding Caroline’s need for a relatively quick turnaround, Fleximize promptly put an offer together, which she gratefully accepted. From speaking with her and reading the fantastic reviews of Lancombe Country Cottages, the Fleximize team recognised that Caroline is a highly professional business owner, who goes the extra mile for her guests. Better still, she was running a profitable business, which attracts custom all-year round.

A warm welcome
A warm welcome :

Lancombe's owner Caroline Newling-Ward goes out of her way to look after the needs of every guest

A personal approach

After applying online, and passing Fleximize’s initial credit checks, Caroline was assigned a relationship manager, who served as a dedicated point of contact from application to approval. Dealing directly with the person who was underwriting her loan meant that Caroline knew exactly what was required of her at every stage of the process, and resulted in a speedy drawdown of funds.

As well as covering the cost of a new boiler, the funding from Fleximize has allowed Caroline to make a number of material changes to the accommodation at Lancombe, which she hopes will further improve the guest experience. It’s also freed up the capital for Caroline to do her own marketing, which has increased Lancombe’s profit margin by almost 25%.

After dealing with banks all my life, I was nervous about using an alternative option. However, I found the process more expedient, very professional, and the pragmatism with understanding my business and applying that to the company's needs was second to none. I would recommend Fleximize to any business. Caroline Newling-Ward

Do you own a business like this?

If you’re running a business like Lancombe Country Cottages, or operate in another sector entirely, we’d love to hear from you. Feel free to give us a call on 0207 1000 110, and a member of our team will tell you everything you need to know about our flexible funding solutions. Alternatively, if you’re ready to apply, simply click on the button below. It really is that easy.

Get started: Apply now