Thanks to Gillian Palmer, Director of Lending Made Simple, for providing us with feedback on the broker focused team in Birmingham.
Gillian’s vision is to make it simple for you to finance your business, to find you the right type of finance for your business at the best available rates and to leave no stone unturned to get your credit cleared for finance.
The Business Opportunity
Gillian has used Just Cashflow’s Revolving Credit Facility to help several of her many clients. She has taken time from her busy schedule to explain to us how the Revolving Credit Facility has helped one of them fund a fantastic business opportunity. Matt Ryde of Graham John Ltd, a professional estate agent, had initially received funding from Just Cashflow via Gillian for day-to-day business cash flow needs. He was then presented with an opportunity to work with a corporate client, which would involve a greater financial investment into the business to make the project work.
Whilst the business was originally established for private clients who wanted that extra service; at the end of 2017 Matt was approached and offered the opportunity to work with a corporate client. The client had researched Graham John and liked the levels of service they provided, therefore wanting their properties to be sold via such a well thought of, professional and knowledgeable estate agent; an agent who advises prospective sellers when it is a good time and bad time to sell; who advises what little changes can be made to their homes to make it a more desirable property to a prospective buyer and an agent who goes that extra mile as they believe homes make life special.
Matt spoke with Gillian, who again suggested he use the services of Just Cashflow as his business suited the lending criteria required for a further successful application.
As a broker, Gillian is well placed to provide the expertise required to ensure clients are connected with the right lender for their business and its financial requirements. Having previous experience of Just Cashflow provided Matt with the confidence that his application would be dealt with effectively and with no delay.
The Just Cashflow Solution and Service
Gillian had initially suggested the Just Cashflow Revolving Credit Facility to Matt to support his day to day cash flow needs as she had previous experience of the product and the team at Just Cashflow.
Gillian explained to us that she has used both the Revolving Credit Facility and Business Builder for many of her clients, noting that flexibility of the products and defined lending criteria make them an ideal choice for growing businesses needing that extra funding to take their business to the next level.
Gillian advised that lending criteria is very clear and transparent and therefore provides her with the ability to determine if the products are right for her client. This is paramount when speed is of the essence.
She went on to say that the process is easy, quick and clear. Communication is excellent and you can follow the application throughout the process, literally to the hour. This enables her to update her client at every stage. Gillian explained that in her experience the team is prompt to act on an application, noting that within an hour of uploading the application she knows that it will be reviewed and processed, she will receive a call from a business analyst and then within a further hour or so a call from an underwriter. The application then continues through the stages and an offer is often received within 24 hours and the funds are available within the next 24 hours. Gillian explained the quickest application only took 20 hours with funds available the following day.
The methodology and ethos of Lending Made Simple are to ensure that the product suits the client and the client suits the lender’s criteria. It is important that a long-term relationship is built up with both the lender and the client and for Gillian, this is key as her business is built on relationships with her clients.
Any comments regarding the ease/speed of receiving a commission?
Gillian explained that once the clients have drawn down on the facility she receives the commission the following Friday. A call is always received to confirm the commission payment and electronic notification is always received.
Gillian noted, “You never have to chase for your commission you can be confident that once the client draws down you will receive your commission the following Friday.”
Would Lending Made Simple use the Just Cashflow solution again?
“Absolutely – every day,” Gillian explained she has utilised both the Revolving Credit Facility and Business Builder for many of her clients. Just Cashflow is her first port of call unless she knows that the client’s requirements do not suit the criteria or the product doesn’t suit the client.
Gillian noted that one of the strengths of the team at Just Cashflow is communication and this is key when you are obtaining finance for clients. There is often a strategic business reason for the application so having the information to pass to the clients is key to providing excellent customer service and assurance at every stage of the process.
The feedback from Gillian’s clients is that not only is Gillian on their side in growing and developing their business, but that Just Cashflow also provides the same service and understanding.
Did your client attempt to gain funding elsewhere first?
Yes, Matt had spoken with his bank and they weren’t prepared to assist. They were happy to have his banking however, they were not prepared to look at his overdraft. Matt explained to Gillian that the reason he chose to use her services and expertise to assist with his funding, was due to the fact that she had a wide in-depth knowledge of business and how it runs, as well as having a wide knowledge of both the lending industry, lenders and the processes involved. This is no doubt why Matt returned to Gillian for further assistance.