Managing director of Bespoq Commercial Solutions Lucy Hope is a former bank manager who has created a new business that offers a different approach to business funding
Why should someone use Bespoq Commercial Solutions?
As ex-bank managers, we understand how the credit approval process works from start to finish. We work with clients to find the right lender to suit their requirements and as members of the National Association for Commercial Finance Brokers we have access to a large range of providers. We can save our clients a huge amount of time and money by doing the research on their behalf and presenting lenders with the correct information to give them the best chance of securing finance. We can advise on all aspects of finance, from acquiring a piece of machinery to buying a property or managing cashflow. We work with all the high street banks as well as a number of invoice finance and asset finance companies, and more niche funders.
What makes the company different from traditional funding routes?
Lenders have different guidelines they adhere to and some have restricted sectors and funding limits. Clients traditionally have approached their bank in the first instance for their financial requirements, however, if that bank declines the facility, it does not necessarily mean that it is not possible to obtain finance. It can often be disheartening for a business owner to face rejection, therefore we can provide guidance that may avoid this situation. We are passionate about customer service and aim to build long-term relationships in the same way as a traditional bank manager would. Our clients are at the heart of everything we do and nothing makes us happier than helping an entrepreneur achieve their dreams.
What type of businesses have you worked with and how have you helped these enterprises secure funding?
We don’t limit our approach to specific sectors or sizes of business. As the name suggests, we work with all clients on an individual basis and can use a number of funding lines and potentially multiple lenders to help them. We also work with a number of property investors looking to expand or restructure their portfolios.
What is the most challenging thing for business owners when securing funding? How does Bespoq address these issues for clients?
Knowing who to approach and what information to provide is key when looking for funding. We take away this issue by researching the market and finding a solution.
What is your funding advice for business owners who are looking to scale up their operations?
Having access to the right level of funding is crucial. Winning a new client or some new contracts can be hugely exciting, however, without the cash to support business growth, many potentially successful businesses have failed. Exploring the options early and working with a trusted advisor who understands your business and can respond quickly can give you the best possible chance of success.