An alternative SME finance provider that has helped almost 10,000 UK SMEs to grow and to thrive is eyeing a £125 million+ funding target over the next few years, as it celebrates 10 years in business.
Set up during the height of the credit crunch in 2008, Capify, based in Greater Manchester, has defied the odds to help almost 10,000 SMEs and retailers to raise funding, delivering much needed access to working capital in the form of merchant cash advances and alternative business loans to benefit the UK economy.
As it celebrates ten years in the UK, the company is lining itself up to support the expected annual festive spike in funding requests in 2018, as well as driving over £125 million into the UK economy to power small business growth and jobs over the next few years.
“We’ve used 2018 – our tenth year of operation in the UK, to reposition ourselves for growth,” said Capify’s Founder, President and CEO David Goldin. “We want to help more independent stores, SMEs and retailers to advance finance in a responsible way, in order to invest in their own futures, expand their businesses and capitalise on the opportunities they have.
“Over the next few years, we’re aiming to drive over £125 million pounds into the economy to help hundreds of small businesses to flourish, as well as educating more businesses about responsible alternative funding options open to them.
“With alternative finance providers like Funding Circle and ourselves growing year on year, I think many small and medium-sized businesses are waking up to the fact that there are so many more options than the big banks; that funding for growth can be simple and that providers like us really do want to support them in achieving everything they aspire to.”
For their 10th year anniversary, Capify’s team of over 70-strong organised a day of celebration at the company’s offices in Altrincham and they were joined by the Mayor of Trafford, Cllr Tom Ross.
Visiting the site, Cllr Ross said: “Capify has a fascinating story and I was delighted to be able to help them celebrate their tenth anniversary in business. To start from nothing in the height of the credit crunch, then to grow and to be able to support many thousands of UK businesses to grow and drive jobs over the past ten years, is an incredible achievement.”
As well as commemorating the company’s performance, David Goldin and the Capify team laid out ambitious plans for growth.
And the company is also predicting another pre-Christmas spike in funding requests from retailers in 2018.
“Every year at Capify we see a big surge in requests to raise funding in the period between October and February,” David added. “And we’re expecting to continue that trend again this year, as SMEs look to invest in stock, seasonal staff and training, upscaling their marketing efforts and enhancing their environments.
“Simple, affordable and smart financial options to support this type of business growth is what we’ve delivered over the past decade and we very much see this continuing in the future.”