Member Article

Doncaster couple receive funding for B2C social media platform enterprise

Fanbooster, a Doncaster-based social media platform which helps leading companies and organisations connect with customers online is going from strength to strength after receiving support from Finance For Enterprise.

Fanbooster is a UK franchise, run by Doncaster couple John and Lisa Smith, which provides niche platforms for marketers and companies to use social media more effectively.

John had originally approached his bank to lend him the money to invest in his four-year-old business but an arrangement wasn’t possible.

Consequently, John contacted Doncaster-based Finance for Enterprise and in just five weeks the funds were in his account.

The £15,000 funds were used to improve the Fanbooster platform which is now being rolled out to brand leaders such as BUPA and William Hill.

John said: “We could have stood still and not pushed for the funds, but we didn’t want to stay small and think small.”

“It’s fantastic that organisations like Finance for Enterprise exist to help businesses when other, more traditional, sources of finance aren’t available. We could draw down the money in under five weeks and we didn’t have to jump through hoops.

“The rates were competitive and we’re now ideally positioned to take Fanbooster forward. We’re already seeing a boost in business from exhibiting at Social Media World Forum.”

Arthur Foreman, managing director of Finance For Enterprise said: “There’s no shortage of ambitious, talented business people in our area but sometimes funding barriers can stop them from achieving all they’re capable of.

“It’s hugely rewarding to work with companies like Fanbooster and help them access the funds to push their businesses to the next level.”

Finance For Enterprise has loaned £8 million to 600 businesses since 2008 and supported 50 businesses with a total investment of £1.1 million in the first quarter of 2014. The organisation’s median loan value is £27,000 over a typical 36 month term.

Finance For Enterprise is a not for profit company limited by guarantee.

This was posted in Bdaily's Members' News section by Clare Burnett .