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Swoop Questions Answered!

Updated: Jun 25

How did Swoop come about?

Swoop is a UK based Fintech company that has launched into multiple different cities - Ireland, Canada, US and Australia. The growth has been a response to the demand of SMEs requiring access to funding. Funding in the form of loans, equity & grant. Our co-founders are ex-KPMG accountant partners and struggled to find lenders for their SME clients - especially with the ever-growing fintech and alternative lenders in the marketplace. Since our launch in 2015, we are global funding partners of F45 and Baskin Robbins and have given 100s of accountants across the globe to access different funding sources including the likes of RSM and BDO. It has been such a great success and honestly- there is no magic sauce but serving our customers.

Does Swoop service established companies, businesses or sole traders ONLY, or can you come to them if you are thinking of starting a business up?

Yes, we can look after all stages of a business from start-up to established businesses!

What does the process involve for getting loans for business expenses? It's simple, you simply create a Swoop profile on our website and wait for our Swoop funding managers to contact you to go through your personalised funding options. This normally takes same day responses and while you wait review the options that our profile has been matched with!

How do I find out what my business credit score is? Speak to one of our funding managers for a free credit score and a health check!

How quick is the process of getting a loan? And how are the payments managed? It varies from same day to up to 6 weeks as we have access to 82 different lenders in the marketplace and our international partners.

Do the payment terms (i.e.. Interest & time period) vary depending on circumstance? Yes, varies depending what product the client enters into. Some are monthly, weekly, fortnightly or even end of term payments.

What savings options do you have available? What is the difference between each? We review your existing finance facilities to see if there are any options to refinance at a cheaper rate, we can review your insurance policies, credit cards etc.. speak to one of our funding managers to do a deep dive on your finances & savings!

What is the difference between a loan and a grant? Grants are financial assistance that is non-repayable in the future and of course no interest. It is provided by the Government. Whereas a loan is a borrowed amount with repaying interest and terms attached.

Does your company charge for consults? The conversations are free but depending what you're looking to do, there is a Swoop Consult fee

Have more questions?

Get in touch with Swoop today and book a FREE consult!

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