Equipment Facility Financing – Float Hub

The Goal:

Float Hub founder, Tom, had a vision to introduce floatation therapy, a concept popular in the US, to the UK market. Despite the uniqueness of the idea, finding lenders or brokers who shared his passion proved difficult.

To bring this new concept to life, Tom required financial support to:

• Secure equipment financing for floatation therapy pods (Asset Finance).
• Fund renovations for the rejuvenation clinic.
• Establish a cash contingency for operational needs (Unsecured Finance).
• Create a credit/drawdown facility to support long-term growth and a potential franchise model (Termed Loan).

RB Finance’s Contribution:
Leveraging their extensive experience in the banking sector and as business owners, RB Finance worked closely with Tom to formalize a short-term and long-term financial strategy tailored to his needs.

Challenges:

1. Budget Overruns:
   As the build progressed to create the UK’s highest-quality float therapy centre, costs exceeded the initial budget.
2. Pandemic Impact:
   Just a few months into trading, Covid-19 disrupted operations, creating an urgent need for additional financial support.

Client Feedback:
“Mark acted with the presence of a trusted advisor, offering useful financial and business advice, as well as acquiring funding when most needed.”

The RB Finance Solution:

• Provided equipment financing to acquire premium floatation pods.
• Facilitated unsecured finance to create a cash contingency for operational stability.
• Set up a credit/drawdown facility to accommodate the clinic’s evolving needs, including expansion plans for a franchise model.
• Offered ongoing business and financial advice to navigate challenges such as budget overruns and the Covid-19 crisis.

Client Experience:
“It never felt as if RB Finance were simply looking to push lending. Their industry knowledge and personal approach were truly comforting.”

Results Achieved:

RB Finance’s tailored solutions enabled Float Hub to:

• Complete their build to the highest standard, becoming London’s premium floatation therapy centre.
• Establish financial stability with contingency funding.
• Develop a financial strategy to support potential franchising and long-term growth.
• Weather the challenges of the Covid-19 pandemic with expert advice and timely funding.

Key Contributor:

• Mark Squires

Client Recommendation:

“RB Finance felt more like a trusted advisor than a broker. Their dedication to our success and ability to act quickly in difficult circumstances made all the difference.”