GLE oneLondon help Simply Smiley Productions finance a Christmas production and improve their marketing strategy.
A loan of £15,000 has enabled Simply Smiley Productions to produce a new Christmas show and improve their marketing efficiency.
Shannon McNab is the creative brain behind Simply Smiley Productions, writing and producing original touring Christmas shows for children aged 3 to 12 years. Shannon also offers bespoke drama workshops and children's birthday parties so she can entertain thousands of children all year round.
Simply Smiley began life in Shannon's home five years ago, before moving to offices in Vauxhall. In previous years, the Christmas show had been financed through personal credit but high interest rates led Shannon to look for additional business financing earlier this year.
Her first port of call was her high street bank of ten years. However, in common with the experiences of many small businesses, her loan application was refused.
How GLE helped them
After contacting the Lambeth Council's Business Desk, Shannon was teamed up with Liam Hickey from GLE oneLondon, who worked with her to understand Simply Smiley's finances and how to apply for a loan.
"Liam really put my financials into perspective and taught me how the bankers liked to see my figures. Together we were able to create a business plan, a cash flow analysis and some profit and loss forecasts and projections. I have learned that even a simple business like mine needs to produce management accounts."
The impact of this help
A £15,000 loan enabled Simply Smiley Productions to create its 2010 Christmas show, consolidate high interest payments, upgrade its website and database for more efficient marketing.
Shannon says of her Lambeth Business Loans experience: "I would definitely recommend the business support and loan fund. If you don't ask, you don't get. The help is out there for you but you do have to look for it and you may have to jump through some hoops to get it. It is worth it in the end."
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