Case Study – R and D Music Limited
R&D is a 'new technology' music-related business that was in the early stages of developing a new and innovative product for the market. The shareholders had injected personal funds to support the development to initial prototype, but further cash was needed for the final push to creating a production version. They approached us for help with funding.
What Happened?
The business had already prepared a business plan and forecasts, so we were able to review and advise on this, plus suitability for presentation to lenders. We also identified that it was important to defer repayments for a period because of the delay time to production. The lender we approached was able to offer an Enterprise Finance Guarantee loan to provide the necessary cash injection and provide the business with the breathing space to get where it wanted to be in its product development cycle.
We are still involved with the business and looking to assist with structural changes, plus its next round of funding.