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Key Details
The business
Trading for: 4 years
Sector: Construction
Location: Old Street, London
Reason for funding
New pitch deck & working capital
Solution
- Unsecured business loan
- Fixed repayments
- £20,000 over 12 months
Results
Producing the UK’s first corporate smart sustainability device
Saj Rahman is the Founder and CEO of Maple People, an innovative construction company based in WeWork, Old Street. The business provides consultancy services to design and create spaces that are highly sustainable in a cost-effective way.
With the construction industry accounting for 45% of the UK’s carbon emissions, Saj spent much of his career in construction struggling to find sustainable alternatives that were economically viable to use for his projects. But this was no easy feat; the construction industry has a focus on turning around projects as cost-effectively and quickly as possible. Sustainability is therefore often a low priority for most businesses in this industry. There are also currently very few regulations controlling how spaces are designed and built, how much energy the space will burn and how much material is created.
It is against this backdrop that Saj decided to break the mould and create a purpose-driven business that has a particular focus on sustainability and concerns for the wider environment.
Saj has produced the UK’s first corporate smart eco-device.
The challenges of running a purpose-driven business
Saj started Maple People as a way to change how those in the industry design, build, and use spaces. The mission of the business is to bring innovation to the construction sector by helping companies develop sustainable and carbon-neutral technology, processes and products. In particular, the business helps to create sustainable development plans for construction firms that are also economically viable. Not only is Maple People carbon neutral, but profits are split between charities and new innovations.
At Fleximize, we're very aware of the unique obstacles that business owners in the construction industry face, such as securing tools, stopping counterfeits, finding customers and even managing notorious late payments from clients. In addition to these obstacles, Saj had to juggle burdens associated with creating an innovative business built on putting purpose over profit. He therefore struggled to secure funding to design and launch his innovations.
He approached numerous banks for advice on raising finance and was told that, unfortunately, businesses operating within the construction industry are seen as ‘high risk’ borrowers. This stigma made raising finance a huge challenge, especially for a startup construction business. Unsure of where to turn, Saj asked his accountant for advice on where to look next and was referred to Fleximize.
How Fleximize helped
Fleximize listened to Saj's plans to use the investment to get his first innovation out to the market, spread the word about sustainability in construction and create better practice in the industry. Because Fleximize looks at different criteria to traditional lenders, and takes into account the business' future potential, Fleximize was able to approve and deliver the £20,000 Saj needed within a week. After chasing banks for many months, this was a welcome relief, and Saj was able to get on with creating his pitch deck and prototype.
In particular, Saj found the possibility of fee-free early repayment, flexible loan terms and repayment holidays very helpful to his growing business. The money Saj borrowed will go towards producing a pitch deck ready for investment for his first innovation project. This innovation, currently sitting as a prototype within his office, is the UK’s first corporate smart sustainability device.
At Fleximize, we love being able to help businesses to realize their company vision. If you run a purpose-driven business, a construction consultancy like Saj, or any other small business, and you need to boost your cash cushion, please feel free to drop us a call on 020 7100 0110. Or, if you're ready to start your application process, simply click the button below.
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