• Sat. Feb 24th, 2024

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Wasting no opportunity: Local Company Secures a £13,000 Cash Boost from the Microloan Fund

Screen Shot 2015-09-11 at 11.56.00A local waste management business has secured a £13,000 loan investment 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.

Budget Waste is based in Gateshead and provides a skip hire, house clearance and waste removal service to customers in the North East. The business operates from its own fully functioning waste transfer station  set up with approval from the Environment Agency and local council, which means they can legally dispose of both household and industrial waste. This provides them with a varied consumer base in the region. Budget Waste is environmentally conscious, with over 90% of the waste collected from customers being recycled.

Shaun Baldwin, Director at Budget Waste, began trading in 2013 as a skip hire broker with minimal experience in the waste industry. He saw a gap in the market for waste services and used his experience in online marketing, and background in design to build a small website where he took a small commission for referring customers from his website to already established skip hire companies. He always knew it would be more profitable to complete the job entirely by himself and so as the business grew he began to purchase a van, tipper trucks, has subsequently moved into suitable premises, and is now a fully chartered member of the Chartered Institute of Waste Management (CIWM).

Shaun views the company’s high profits as a result of a successful online presence. Budget Waste is benefiting from the recent surge in mobile internet, people flocking to google to find waste services. Shaun has used his experience in online marketing to maximise his company’s unique selling point, ensuring that the business has a high online presence, and ensuring that the company takes full advantage of technology such as card payment machines and online invoicing. A key factor in the success of the business is also down to Shaun’s efforts in ensuring he always provides excellent customer care, and tailoring the services he delivers for each of his customers individually.

Shaun heard about the Microloan Fund through word of mouth and was intrigued by the simplicity of the process. He had previously been refused by the banks and other mainstream lenders and saw this route as the best available to him.

Remarking on the process of obtaining the loan, Shaun states that it was “Very professional, there was lots of guidance and help and the team were always in contact.”

Shaun envisages his company expanding in a number of ways with the Microloan’s assistance. Initially, he would like to purchase plant equipment and environmental licenses from the government. 

Nikita Bazko, Fund Manager at Rivers Capital Partners, commented on Shaun’s aspirations for the business: “Shaun has imagined a bigger future for his business.  He would like to employ local people, look after them and integrate his company harmoniously into the community and environment”.

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 run 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, guided by professionals every step of the way.

By admin