Term Finance Case Study:
Oryx Doors and Windows
Since 2011, Oryx Doors and Windows (Oryx) has been bringing a portfolio of high-quality architectural products to the MENA region with the vision to transform how we live through our surroundings. Oryx helps homeowners and developers realise the full potential of their properties through expertise and high quality doors and windows.
For a number of months after the pandemic hit, Oryx were unable to install anywhere near the amount of doors and windows that they needed to, and this hit the business’ cash flow. However, clients’ enquiries continued to come in, and they had a huge order book going into 2021. Oryx needed to purchase new vehicles to increase its installation capacity and accommodate all its clients’ orders.
What Beehive did
Beehive offered Oryx Term Finance. Term Finance is a flexible SME business loan which can be repaid over 6-36 months. Oryx chose Beehive because of its fair interest rate and quick turnaround, and used the funding to purchase new vehicles, improvements to the showroom, and for new machinery.
Beehive’s Term Finance product has helped Oryx surpass the challenges it faced during the pandemic period. Oryx was able to increase its installation capacity and hired new staff to cope with the increase in enquiries and orders. The team were able to work safely as they have a spacious office and showroom, and their operations have been going smoothly.
“We chose Beehive because of their fair interest rate, and quick turnaround. It was our second round of funding from Beehive. We found their process so much easier than a bank, and the procedure was clearly laid out. The banks here should take notice!” – Guy Dawson, Managing Director, Oryx