Company

The family business, with extensive experience in both the farming and equine sectors, based near Morpeth in Northumberland, was dedicated to meeting the growing demand for dignified and compassionate animal and pet cremation services.

Funding Requirement

With no trading history, securing support from banks and lenders was a real challenge. However, Renwick Animal & Pet Cremation Services was able to obtain the working capital from Reward to acquire vital equipment needed to launch a new start-up business, which uniquely provides cremation services to animals and pets of all sizes across the region.

Finance Solution

Key to completing the finance deal was the speed of lending and a pragmatic approach to funding risk, with Renwick able to use the working capital from Reward to purchase equipment ahead of the deadline and avoid any revenue loss from delayed openings.

The deal with Renwick was largely based on strong projections and a solid business plan, with Reward ensuring the company didn’t have to go through any unnecessary red tape to secure the finance needed to accelerate its business plans.

Aaron Tinmouth, Reward Funding’s North East Business Development Manager, added: “Being able to provide alternative finance to help launch a new business like Renwick underlines our entrepreneurial mindset and innovative approach to lending. Whilst this is a new venture for Jane and George, we made sure that we sat down with them to truly understand their plans, ambitions and their funding needs to ensure we could provide the right solution tailored to them.”

Client Testimonial

“Having worked with pets and livestock all our lives, we recognised across the North East that many businesses and pet owners with larger animals were increasingly forced to travel as far as Derbyshire to access cremation services. Equipped with this knowledge and our passion for animal welfare, we invested in refurbishing the former equestrian centre located on the estate and converted it into the new pet and animal crematorium.

“The missing piece of the jigsaw was securing the finance in order to acquire the vital equipment needed to launch. As a new company, this was a real challenge since we had no previous trading history to present to banks and other lenders. Therefore, we were delighted that Reward was able to support us by recognising our long-term vision and plans for the business. The whole process moved at pace, ensuring we didn’t face the financial headache of having to delay the launch and put everything on hold.”

George Renwick, Director and Co-founder of Renwick Animal & Pet Cremation Services