Cattaneo Corporate Finance has advised On Device Research on raising debt finance from HSBC under the Government’s Coronavirus Business Interruption Loan Scheme (CBILS).
On Device Research is a mobile sample and research provider, enabling brands and their agencies to measure market effectiveness. Working with brands and media companies to undertake surveys and research projects delivered using its in-house researcher team. It also has a programmatic business delivered through its proprietary mobile app “Curious Cat” which automatically matches consumers with surveys. A customer will seek a sample of a required number of people and On Device Research will match that customer with its user base to obtain survey responses.
On Device Research was seeking funding to support it in trading through the period affected by Coronavirus and allow the business to continue to build on its exciting proposition.
Cattaneo undertook an assessment of the proposal under CBILS eligibility, provided support in collating and preparing the financial information required for the application, and prepared the funding proposition that was submitted to HSBC.
Commenting on the process, On Device Research director Alistair Hill, said:
“The CBILS loan will make a huge difference to our business and is key to helping us trade through the current economic conditions and continue to develop our business at an exciting time for us. The team at Cattaneo made the process very simple due to their in-depth knowledge of the CBILS scheme and the overall fundraising process. It was clear they knew the banking market intimately and were very well versed in CBILS despite the short amount of time it has been available on the market. This enabled us to ensure we qualified and that the application ticked all the boxes the bank was looking for.”
