Caple supports the growth of specialist communications training business
Alternative SME credit specialist Caple has helped Working Voices, a specialist business communications training firm, with access to unsecured lending.
Working Voices will use the long-term unsecured loan to implement its strategic growth plans. The business plans to increase its revenue streams by developing and marketing new products and services and continuing to expand globally. It will be able to hire new trainers as a result of the growth it expects.
Businesses such as Working Voices find access to secured lending an issue because their business is based on intangible assets, such as intellectual property and brand. But banks generally need tangible assets to put up as security for loans, so this avenue was not open to them.
Sean Brophy, UK country manager, Caple, said: “Working Voices is a successful and well-run business. However, because it lacked physical assets to use as collateral, traditional lenders were unable to offer financing to support its growth. Our deal demonstrates how unsecured lending helps UK SMEs to grow, without having to give up ownership and control by issuing equity.”
Nick Smallman, founder and CEO, Working Voices, said: “We have grown since starting and have both long-term clients and trainers. But finding the finance we needed to grow has taken almost five years. This deal with Caple enables us to develop and market new products and services and implement our growth plans, without having had to agree to onerous personal guarantees.”
With a 20-year history and a team of 50 people, Working Voices is a leading business communications training company. It works with blue-chip clients in the US, Europe and Asia, including businesses such as Mastercard, Sony and Burberry. It offers a range of communication skills training from graduates to CEOs through face-to-face and online training courses.
Caple is the UK’s first firm to offer access to long-term unsecured lending based on the future cash flows of the SME. It requires no collateral or personal guarantees as security. Loans originated through Caple also work alongside existing bank lending, meaning firms can have access to more funding than they would get from their bank alone.
Russell Lerman, co-founder and director at Fuse3, supported Working Voices and said: “This deal will help Working Voices to expand its business and implement its growth plans. The team at Caple took the time to understood Working Voices and put together a funding solution that works for them.”
The loans Caple facilitates are part of BNP Paribas Asset Management’s SME Alternative Financing direct lending platform, which enables SMEs to access funding from institutional investors. BNP Paribas Asset Management aims to provide €1bn per year in funding to SMEs across Europe.
