RAMP PTN 4th Ltd
Tom Kerridge is passionate about music and in particular experimental modern and dance music. For 8 years he ran the small but successful sound recording and publishing business RAMP PTN 4th Ltd but was at the stage in his life when he wanted to expand it further, particularly to offer more locally based musicians the same opportunities enjoyed by artists from around the world, including the ability to sell their music digitally as well as on vinyl and CD.
Historically Tom had funded his businesses growth organically, using cash from contract sales and from organising music events but recognised the need to obtain funding to expand it further. This recognition came shortly after signing an artist whose album was considered for the Mercury Prize album. Tom needed funds to pay upfront for artist’s contract purchases and to cover cash flow issues caused by record sale income time lags.
Tom approached his bank, but due to his insufficient credit rating and the speculative nature of the business, was declined support. Spurred on by his determination to succeed Tom undertook some research on the internet and found Foundation East, whose affordable loan products aimed at growing businesses seemed to fit the bill. He submitted an application in January 2013 and Business Loans Manager Peter Wood was keen to support him. There was no doubt in Peter’s mind that Tom knew his business but recommended that Tom work with a business coach to enable him to be a better business man.
Tom’s business is progressing well with new artists under contract and new releases in the pipeline.