Founded in 2010, Rushforth Media is a fast growing media business, producing audio, video and television content for clients in the UK and USA. With a turnover approaching £2million, Rushforth Media is the UK’s biggest producer of audiobooks, with customers including publishers, consumer brands, rights owners and literary estates. Simon founded the company in 2010 after a successful career in law and media and now employs 15 people. The company was initially funded through the sale of a previous business. Simon started with just £10,000 of initial capital, made £600,000 turnover in year one, £1.2m in year two and has never looked back.
Rushforth Media is a self-funded business, in good financial shape with regular, fixed payments from key customers. As a fast-growing business, Simon wanted some additional working capital to help build a publishing arm to complement Rushforth Media’s existing production business and aid expansion. He felt that his existing bank was very slow and uncommercial and not able to lend what he wanted, when he wanted it. He turned to Everline: “because of its nimble, highly commercial approach to business lending.”
Having access to the additional funds has helped Rushforth Media not only take advantage of the new market opportunity, but also ride out the periodic cash crunches that come hand-in-hand with any fast-growing business. Simon says: “We wouldn’t have been able to expand the business without these funds. I know that our bank would have made a massive ‘to-do’ of what was a more than reasonable risk profile.
“Everline’s application process was very efficient and transparent. It was all done online, but I spoke to actual humans along the way and all my questions were addressed. The flexibility was key, as we were able to set repayment terms to suit the business’ needs. The main attraction though, was the efficient review and approvals process and ease of activation – backed up by really helpful people on the phone if needed.”