Sterling Souvenirs

The additional funds meant Aziz could keep his business open, pay his rates and bring back his staff gradually. More importantly, it allowed him to expand his successful business online.

Retail
Retail

With hospitality venues closed, footfall in London down, tourism halted and school trips cancelled during the pandemic, Aziz needed funds to help with cash flow issues caused by Covid-19. 

Funding Options helped Aziz Hasani secure the funding he needed to pay suppliers, staff costs and rates – as well as ease cash flow issues caused by the pandemic. 

The bridging loan Aziz received enabled him to begin taking his business online in order to mitigate the issues caused by Covid-19 and create an additional revenue stream.

Sterling Souvenirs has been trading for 12 years in London’s busy Victoria neighbourhood. The company sells gifts and souvenirs that represent or are influenced by London. 

Aziz’s business heavily relies on the hospitality and tourism industries and when these ground to a halt during the pandemic, he says his “footfall and sales declined by 90%”.

Sterling Souvenirs, Victoria London

Using a bridging loan to improve cash flow disruption

The pandemic has undoubtedly created a great deal of worry and uncertainty for businesses across the UK, and like so many other businesses that were thriving before the pandemic, Sterling Souvenirs was unable to open and trade during lockdown. 

This meant Aziz found himself in need of funding to ease his cash flow shortfalls. 

Demand for souvenirs and London gifts declined rapidly when tourism to the UK was halted and hospitality closed down. Before securing his funding through Funding Options, Aziz was turned down for finance on several occasions due to his accounts and his profile. 

 He began to feel like he “was running out of time and options and could see no light at the end of the tunnel”.

The additional funds meant Aziz could keep his business open, pay his rates and bring back his staff gradually. More importantly, it allowed him to expand his successful business online. 

Businesses across the country are still trying to deal with the effects of COVID-19 and many are seeking business finance support to get their business back on track (or to keep up with demand and grow their business).

Having a Business Finance Specialist on your side

At the beginning of the pandemic, Aziz struggled to secure the funding he needed to keep his business afloat. This is when he reached out to Funding Options and spoke to our Property Finance Specialist, Vik, who took the time to understand his situation and the needs of his business. 

Aziz recalls how Vik came back with “three options and explained each one in detail, answering my questions along the way”.  

With the help of Vik, Aziz was able to get a bridging loan for the amount he required from Invocap, a Fintech lender specialising in the SME market. The money Aziz received meant he could keep his business open, pay his rates, and bring back his staff gradually. 

Having the right funding in place, has allowed Sterling Souvenirs to continue trading and Aziz to begin his plans to take his business online and develop that additional revenue stream. 

Aziz says his experience with Funding Options “was 5 stars”, and he “highly recommends Vik who listened, was patient and always found a solution”.

Are you looking to grow your business or boost your cash flow using business finance? 

With so many flexible options on the finance market today, now’s the time to explore your options.

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