A regional digital advertising agency has secured a cash boost from the Finance for Business North East Microloan Fund, a regional loan scheme managed by Rivers Capital Partners that provides small businesses with micro loans to fund their big ideas.
Surge Marketing Solutions specialises in website design and online marketing and has been trading as a limited company for just over a year. When asked, David Porter, Director at Surge Marketing Solutions, clarified his company’s role in the sector, stating: “Simply put, we help people get more from the Web.”
David started the company because he recognised the growing trend of advertising online. He remarked that “25% of advertising budgets are spent online, and it was actually one of the only industries that grew in the recession.”
For David, Surge Marketing Solutions is set aside from others in the digital advertising industry because it brings previous sales and marketing expertise to every client’s brief. This means that the websites that Surge design not only perform better, but are able to convert visitors into customers effortlessly.
Surge Marketing Solutions has won contracts with clients all over the UK, ranging from sole traders to local authorities and David hopes to further enhance this early success with the loan gained from the Microloan Fund.
David decided to apply to the Microloan Fund because he needed an instant cash boost to accommodate the staff expansion required to support their business growth.
Nikita Bazko, Fund Manager at Rivers Capital Partners, said: “With the support of the loan from Rivers, Surge Marketing Solutions will be able to recruit three more members of staff within an eleven-month period, whilst simultaneously providing the company with a financial security blanket and also facilitating their move to new offices”.
Surge Marketing Solutions has already achieved 6 figures in its first year and is looking to hit quarter of a million in the next year. Looking to the future, David hopes to recruit more staff to join his growing team of 7 to a team of 10 by April 2016. As well as this, Surge Marketing Solutions will be expanding into the mobile app development business.
Commenting on the process of securing the micro loan from Rivers, David enthuses that “…it was very straightforward and very simple. The process only lasted two weeks and the interest rates are fair.”
The North East Microloan Fund provides small loans of £1,000-£25,000 that make a big difference to businesses in the region. The fund is ideal for inspired individuals who know that lack of finance is the missing link that is holding their business back.
The Fund is specifically aimed at businesses that have been struggling to secure mainstream finance and can provide affordable credit for those with a poor credit history. A loan fund ran by entrepreneurs for entrepreneurs, the decision to provide a loan is not based on the assets a company has but rather the overall quality of the business. This makes for a speedy, hassle-free funding process, which you are guided through by professionals every step of the way.