Fundkiss Bridge Loans
12 Aug 2022
LIGHT CONSTRUCTION EQUIPMENT CO LTD: A CASE STUDY
Light Construction Equipment Ltd (LCE) has had 3 successful campaigns on Fundkiss. This SME has borrowed MUR 1,150,000 through our platform to fulfil the needs of its customers. Their most recent campaign was launched on the 11th of April 2022 and was financed in 1 hour by 21 lenders.
The borrower is a supplier of construction machinery and equipment. They are currently the sole distributor of the Altrad brand and have points of sale in Port Louis, Petite Rivière, and Highlands. LCE has contractors who regularly rely on them to supply the above and, where needed, perform equipment repairs.
When the client first borrowed on Fundkiss in 2019, they relied on one supplier for all their products. After two successful campaigns on the platform, the borrower has successfully expanded its services and line of products, with a French supplier joining the ranks.
LCE faced a growing demand for its products and needed to import a concrete spraying machine for a customer who had already put down a deposit. LCE’s customer had already obtained a leasing facility and had made a deposit to be able to purchase the machine. The leasing offer would only become effective once the equipment reaches Mauritius.
Many businesses get stuck at such a point because they need a quick turnaround to be able to finance the import of their equipment. The question was asked: How could LCE obtain funds quickly to import their equipment? The answer was clear: Fundkiss
The director approached us with the necessary documents and within a few days, after a thorough credit analysis, the loan was approved by our credit committee. The company only needed MUR 400,000 and the loan would be repaid once the leasing company released the funds to the borrower’s client. Within one hour, the amount was raised from 21 esteemed lenders and the funds were disbursed within 48 hours. This bridge loan allowed Light Construction Equipment Co Ltd to import the concrete spraying machine. LCE was able to fulfil the demand for its products and didn’t have to wait for months before being able to act swiftly.
“It is a pleasure to deal with a Company like yours. I would never have been able to increase my line of activities without your help.”- D.Nemorin, General Manager of Light Construction Equipment Co Ltd.
Businesses now have access to our Flexible Bridge Loans. While you structure a long-term deal with your bank, your business does not have to stall. You can simply borrow through Fundkiss.mu and then have the loan repaid once your deal with your bank is signed. There are no prepayment fees so make full use of this solution which is now available to Mauritian SMEs.