Short term business loans provide many ways to propel a business’s growth. But for a recruitment company we worked with recently, it helped them do what they do best – hire.

The business owner used the short term business loan to employ a new recruiter for his growing firm. His recruitment company, specialising in sourcing candidates across the technology sector, needed a new hire to support a 12-month contract they had just secured.

In seemingly never-ending news about AI threatening the labour market, it’s a welcome refresher to see technology driving more employment for a change. Read the company’s journey with a short term business loan from Crispcap below.

How Did the Recruitment Firm Start?

Unlike many small businesses that begin trading, finding new clients wasn’t an issue for this recruitment firm.

The owner had a solid nest egg of clients he could rely on for regular work. He knows the tech market and has proved his worth to multiple companies by providing them with successful hires in the past.

Now it was time to grow his team, and he knew better than anyone about the expenses of employing someone new. Job advertising, training, equipment, and software are all costs that quickly mount up when introducing a worker to the team.

What Challenges Did They Face Before Getting a Short Term Business Loan?

It became clear to the business owner that commercial finance would be needed to support the recruiting process.

Without a business loan, the company would have to use its cash reserves, which would put a strain on its their day-to-day operation. After all, preserving cash flow is essential to controlling the unexpected costs that can arise when running any business.

The demand for commercial finance is nothing new in today’s economy. In fact, in 2024 it was revealed that gross lending to small and medium-sized enterprises (SMEs) reached over £4 billion in the UK, marking an 8% increase from the year before.

Despite having a strong client base, the recruitment consultant also struggled with sourcing appropriate candidates for the roles he was trying to fill.

Finding promising applicants in today’s job market is a time-consuming process, particularly when trying to reach a niche like technology specialists. What’s more, the resources and platforms that recruiters use to search for candidates are often pricey subscription-based services.

How Has a Short Term Business Loan Helped Them?

After the business owner filled out a 30-second loan application with Crispcap, we started the quick process of getting the funding in place.

Within 4 hours the company owner had £30,000 sent to his business bank account. As intended, the funds were used to cover the costs of hiring a new employee to manage the increasing workload of the recruitment firm.

The loan was beneficial as its 12-month terms allowed for a lower overall amount of interest. Most importantly, the short term meant that Crispcap could arrange the funding at a rapid pace, allowing for a fast payout and a quicker hiring process for the business owner.

He is using the remaining funds to consolidate some debt that was created by business purchases. The 12-month term means it won’t be long before the entirety of the debt is fully paid off. He’ll be using commercial finance options like business loans for future expenses to avoid any financial risk.

What’s Next for the Recruitment Company?

Now that the company have received the funding they applied for, they can sustainably manage the big contract they’ve secured.

Deals like these are not out of the ordinary for the company. The business owner has said that much of their revenue is dependent on contracts that last 12 months. They provide a reliable and steady source of income.

He’s told Crispcap that he wants to grow his operation and his team in the future. He has said he’ll be in touch for another loan in the future to turn his vision into reality.

How Can You Get a Short Term Business Loan?

At Crispcap we can fund your business in as little as 4 hours, just like we did with this recruitment firm. Click here to get a free quote without affecting your credit score. Short term financing has proved to propel SMEs to new heights.