The Client:
Nousha Photography, a London-based family portrait studio, opened seven years ago with Claire and Lionel running it from home. It now employs a team of nine including photographers, framers, retouchers, administration staff, and a receptionist.
The Deal:
When the team needed urgent funding to relocate their business and were let down by a high street bank, they turned to Goodman Corporate Finance to organise a short term loan to cover the costs of the move.
The deal saw:
- a fantastic turnaround time for securing funds
- reassurance of dealing with a friendly, professional team
- Understanding of the business’ requirements
- sourcing of an alternate funder for our client when the bank said no
Success!
The urgent funding that the client needed was sourced when the bank said no. The process was simple as GCF understood the business and took the time to find the perfect funding solution. Now our client can continue to thrive with big business plans.
Quotes:
Claire Cherruault, who founded the company with her husband Lionel, explained: “Our landlord gave us six months’ notice of his plans to demolish and redevelop the building that housed our studio – so we really had no choice but to move.
“There wasn’t much time to make it happen. We held lengthy negotiations for a loan with a high street bank but in the end they just said ‘no’, leaving us high and dry.
“Thankfully we then contacted Goodman Corporate Finance and they had the money available from an alternative funder within days. It was a very easy process and knowing we had their support took such a load off our minds. They really understood us as a business and delivered exactly what we needed.”
They have big plans for the future once they’ve settled into their new home. “In addition to the short term loan, Goodman also negotiated a long term loan from a high street bank,” said Claire. “As things turned out we didn’t need it then, but we will certainly talk to Goodman again when we’re ready to put in place some of the big new developments we’re planning.
Working with the Goodman team was a pleasure during such a stressful time – they were easy to deal with, they explained what was going on in terms we could understand, and the speed with which they secured the funds was fantastic.
Claire Cherruault, Owner at Nousha Photography