Amy Louise Bridal Gowns is a designer bridal boutique located in the picturesque town of Nantwich, in Cheshire. The boutique has been present in the town for the past 14 years however in early 2012, James Lindsay purchased the shop from the previous owner to run it as a family business. Amy Louise Bridal Gowns has an excellent reputation for the service they provide to their brides. Stocking designer dresses aimed at the higher end of the market and ranging in price from £1,500 to £4,000, the boutique attract brides from the length and breadth of the country, usually through personal referrals or via their website.
Location – Nantwich, Chesire
Business Nature – Retail
Loan Purpose – Working Capital
Trading for – 3 years
Target - £57,400
Loan Term – 36 months
Number of bids – 54
Avg ROI – 12.43%
Before purchasing the bridal boutique, James himself had considered investing in businesses via crowdlending due to the attractive rate of return on investment he could achieve. However when he instead bought the bridal shop, this idea was put to one side. It was not until James was unable to secure funding for the business through his bank that he started to consider Crowdlending again, but this time as a borrower rather than an investor.
Why they chose us
On-line research resulted in James discovering LendingCrowd. Despite being located North of the border, hundreds of miles from Nantwich, this was as a positive for James who is a proud Scotsman! After registering as a borrower, LendingCrowd worked with James to develop his pitch for funding and his loan went to auction.
A happy ending
In May 2015, 3 weeks and 54 investor bids later, Amy Louise Bridal Gowns successfully reached their loan target of £57,400.
The money has already been put to good use as the company has introduced a new designer to the boutique – bridal fashion designer and celebrity wedding planner, David Tutera. The company has also appointed an agency to begin the revamp of their website and hopes that this will be completed by the end of the Summer 2015.
James Lindsay, Owner and Financial Controller, Amy Louise Bridal Gowns.
“I would use LendingCrowd again without hesitation, they were approachable, reliable and professional and above all I secured my loan quickly and easily. The credit team kept me well informed during all stages of the process and everything went smoothly. A painless experience! ”