With over 30 years of experience in facilities management and security, Muhnib established Lexnis Group in 2019 and it then rapidly became an industry leader. Working across five countries, with over 1,000 trained professionals on their books, Lexnis has recently had growth in demand by 300%.
Seeing growth like that was hugely exciting for Lexnis but also created uncertainties that needed to be managed. One of those major concerns was that such growth generally comes with upfront costs that need to be absorbed by the business before they see an increase in their revenue.
“We had around 300% growth within a few months. Going from a small company to a medium-sized company, we suddenly find ourselves with a cash flow bottleneck,” says Muhnib. “We were looking at providers but wanted to leave using our bank as a last resort.”
When searching for funds to help grow Lexnis, Muhnib wanted a product that supported the company and came from a source he was comfortable with. InstantAdvance was able to cover this.
“I find it helpful because the reason I did not go to the bank is because that involves interest and which I wanted to avoid for religious obligations,” says Muhnib.
InstantAdvance makes funding manageable for your business, for example, the flexible repayments feature. Muhnib says, “The best thing about this system is that I am paying a percent of what I am getting paid, rather than a fixed amount”. This means that for Lexnis, when there is more revenue coming into the business they are able to repay a higher amount. But, it also means that in a time of lower revenue there is not a minimum repayment amount that they need to meet, like there would be for a standard loan product.
The InstantAdvance application process is very straightforward, online and uses secure data transfer for the required accounting and banking data. “I really didn’t have to do much work at all, ” Muhnib says of the whole process. Designed with SMEs in mind, there are no long application forms to fill out, or weeks of waiting to hear if you have been approved for funding. With InstantAdvance, you can have the cash in your bank within 48 hours of applying.
When it comes to rating and recommending InstantAdvance to other businesses, Muhnib had one thing to say: