Fleximize Supports Devon Startup with Working Capital

Stewart McLeod, Managing Director of Spinback Productions, needed a boost of working capital to fulfil a contract with Club Wembley

30th May 2019

Stewart MacLeod is the owner of Devon-based Spinback Productions, an events DJ and merchandising provider. As with many manufacturing businesses, the nature of Stewart's merchandising contracts means that he must pay factories to produce and ship goods well in advance of receiving customer payment, leaving him out of pocket for several weeks per project.

When Stewart was offered the opportunity to supply Club Wembley with hospitality gifts for their 2019 concert series, he approached his bank for a small business loan to access some much-needed working capital. As numerous SMEs experience, he was turned down for not having any tangible assets to offset the loan against. 

Fortunately, Fleximize was able to offer Spinback Productions an unsecured business loan of £15,000 tailored to the unique needs of the business. The money was in Stewart’s account within two days of starting the application, and the funds allowed him to take on the prestigious contract with Club Wembley.

To find out more about how Fleximize helped Spinback Productions, take a look at the case study by clicking the button below. 

Check out the Video Case Study