Whether you need to boost your cash flow over some slower months, you’re looking to grow, or you’d just like to see what’s out there, we can walk you through the best solutions for your company.
A ‘business loan’ can refer to lots of different lenders and products, so it’s hard to know where to start. Generally, unsecured business loans are very popular amongst small business owners as they can be very versatile. Common purposes include boosting cash flow or working capital, assisting in the expansion of the business, or buying new stock.
A secured business loan will entail a slightly longer application process than for an unsecured business loan but can be a much cheaper way of accessing funds for your business. So, if you want a business loan and don’t mind using your business assets as security, a secured business loan might be the right choice for your business.
Asset finance, also known as ‘equipment finance’ is essentially taking out a loan to buy or lease physical assets required for running or expanding your business. From replacing old office equipment to leasing a new fleet of vans, asset finance can provide businesses of all sizes with immediate access to the assets you need to drive your business forward.
Merchant cash advances, also known as business cash advances, are a relatively new addition to the business finance world. This innovative product uses your card terminal to ‘secure’ lending and then repayments are taken as a proportion of your revenue, making it effortless to repay the loan. This type of finance has become very popular in the retail and leisure sector and can work well for any business that takes a good volume of card sales every month.
Invoice finance is usually a good solution for a business that is being restricted by lengthy invoicing terms and either struggling to cover running costs or unable to expand as a result. Invoice finance allows businesses to unlock essential funds as soon as invoices are issued, stabilising cash flow and allowing the business to take on new work where otherwise they may be restricted.
A bridging loan is a type of short term property backed finance. They are often used to fund you for a period of time whilst allowing you to either refinance to longer-term debt or sell a property. Unlike other forms of borrowing the monthly interest is often rolled into the loan, meaning there are no repayments to make during the term of the loan.