250 investors help entrepreneur buy Coventry building

A LOCAL entrepreneur has secured a £369,000 crowdfunding loan to purchase and improve a landmark office building in Coventry, housing more than 100 local businesses.

The loan was secured through Assetz Capital, a peer-to-peer lending platforms.

It will allow Dawn Grinham to buy 3 The Quadrant, known as The Quadrant Business Centre, which she currently leases, and make improvements to continue to develop it.

The loan used to purchase The Quadrant Business Centre was made up of investments from 250 people, with loan parts ranging in value from £20 to £50,000.

The 100-plus tenants in the building include solicitors, accountants, management and recruitment consultants, and also include healthcare and complementary healthcare providers, technology start-ups, national organisations and charities.

Grinham said: “This is a proven business model with an existing customer base, so it’s amazing to think that we almost didn’t get the funding we needed to take ownership of the building and take the business to the next stage.

“We approached high street banks with a solid plan and the right background to run a business like this, but they simply didn’t want to know.

“Thankfully, Assetz Capital was able to be flexible and really help us. The team saw that this was a good opportunity, and we were able to secure funding quickly and simply – they took a serious look at the business, even coming to visit us on site, and got things moving without delay”.

Stuart Law, CEO of Assetz Capital, said: “It’s vital that the UK backs its entrepreneurs and we’re pleased to be able to support people like Dawn who see a great opportunity and want to make the best of it.”