Poddle Pod, which operates from a base in Rugby, has developed a unique slumber nest which simulates the feeling of a baby is being held, helping him or her to rest and sleep comfortably in a natural way.
After starting the company at home with a staff of seven and achieving excellent feedback, Charlotte Marshall, the owner and managing director of Poddle Pod, was keen to expand her business and needed £30,000 to help the company produce enough products to keep up with demand.
Despite having excellent sales records and feedback, she was advised to look at alternative ways to finance her plans because her firm was so young.
Poddle Pod secured their loan target from LendingCrowd in just one month, allowing Charlotte to improve the quality, and ramp up production of the Poddle Pod by outsourcing production to Turkey. The funding has also enabled the company to sell into major high-street retailers as well as develop a wipe-clean version which can be sold to the NHS.
"The business is getting bigger and more popular every day, and we’re now exhibiting at all the baby shows across the country. The banks haven’t been very forthcoming with us so we had to look around for other ways to help us grow. We had hit a brick wall and couldn’t grow anymore. Without LendingCrowd we would not have secured the future of our business."
Stuart Lunn, CEO of LendingCrowd, says that accessing finance to fund development and growth has never been more important for small businesses. "Poddle Pod’s experience goes to show how vital crowdlending can be to an increasing number of SMEs across the country, especially those who operate in sectors that have specialised borrowing requirements.
"Just because a company does not fit the standard template often required to secure bank funding it should not mean their ambitions to grow as a business are thwarted. There are lots of enthusiastic investors out there who are keen to back companies like Poddle Pod, and we believe flexible and well-regulated crowdlending can help support a successful base of SMEs that can go on to make a valuable contribution to the economy."
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