YouLend’s broker channel recently bridged a successful deal in Spain which used alternative data to fund a fashion designer who was looking to stock inventory ahead of the Black Friday sales spike.
The young designer required €19,000 to purchase inventory and ramp up operations ahead of the busy season. However, to take advantage of the festive sales, the biggest business challenge she faced was that traditional lenders were not able to unable to offer the required funding size to her small business at affordable rates.
To overcome this hurdle, the Spanish broker team was able to use alternative data points to take into account her multiple revenue sources and offer a funding amount that exactly matched her business needs.
YouLend’s flexible, revenue-based financing once again highlighted the importance of moving away from simplistic risk indicators such as operating history and singular revenue streams. Ultimately, YouLend’s funding deal is a clear indication of small to medium sized businesses wanting fast, flexible and affordable financing options that offer additional value than traditional lenders.
“Serving our Spanish market allows us to support businesses with inventory funding ahead of the busy seasons such as Black Friday and Cyber Monday” - Monika Fitzpatrick, Partnerships at YouLend