Where can I find business loans for UK businesses? Affordable borrowing solutions tailored to reflect your organisation’s structure, strengths and goals
For many businesses, carefully structured financing is essential if they’re to achieve their objectives. Loans can provide much needed venture capital, enable investment in fresh technology or ensure that cash is available for running costs and salaries when a project will take some time to generate a profit.
Luckily there are hundreds of different secured and unsecured business loans out there, a large number of which offer low rates of interest and flexible terms. We are a UK business loan broker that can work with you to identify the type of financing that’s going to be most suited to your individual business profile. Once it’s clear which product will work best, we search our lenders in order to find one that will provide a good match for your borrowing needs.
Ideal for property development, commercial mortgages, working capital and more, the right type of borrowing is an important part of your future success. Why not get in touch with our experienced, knowledgeable team for a FREE, no-obligation consultation?
Is accounts receivable factoring right for my business? Factor accounts receivable could free up useful working capital for your everyday cash needs
If your business has got a considerable amount of money outstanding due to unpaid invoices, factoring receivables accounting could be the perfect solution. This type of borrowing involves selling your outstanding invoices to a third party. They will pay you an immediate advance on a percentage of the invoice total, then pay a further amount once they have recouped the invoice amount from your customer.
Particularly if you have clients that you’ve been chasing for months and who still haven’t paid, accounts receivable factoring could save you the time and money involved in debt recovery, as well as providing a welcome injection of cash to keep your business ticking over.
For an established business that has a number of clients, some of whom have owed significant sums for a while, accounts receivable factoring can be a good way of obtaining finance without taking out a business loan.
Our team can put you in touch with experienced accounts receivable factoring companies, enabling you to get a speedy, convenient resolution to your current cash flow issues.
Could invoice factoring help my business’s cash flow problem? For many SMEs, invoice factoring companies can provide ready money for everyday expenses
Almost every business that’s been running for a while knows the misery of clients that adopt the “can’t pay, won’t pay” attitude. If you’ve got long-standing invoices which have remained unpaid, or simply find that you have a considerable sum locked in unpaid invoices, factoring invoicing could work for you.
Invoice factoring companies buy your invoices, paying you an advance as soon as the deal is completed, followed by a further sum once the invoices have been settled. The factoring company will undertake all the debt collection work; all you need to do is use the money generated from the process to keep your business growing. Ideal for a rapid cash injection, factoring also eliminates the need to chase debts or take further action following non-payment.
We can offer invoice factoring UK wide, putting you in touch with experienced, professional factoring companies that could help you generate some finance without the need for a traditional business loan.
Would invoice discounting provide ready cash for my business? If you need a rapid solution to your cash flow problem, invoicing discounting could help
Unfortunately, predicting the amount of customers you’re likely to get and when they’re going to pay you can be difficult. Periodically, almost every business finds that they need to buy fresh materials or pay their staff at the same time as having a number of invoices outstanding. This can lead to problems with cash flow, which is where invoice discounting companies can help.
Invoice discounting is an advance against the money you are going to receive when your customers pay you. A lender will let you borrow a percentage of the money owed; you will pay it back when your customers pay up, along with a service charge. Unlike factoring, you usually retain full control of the invoices; they still belong to you and are subject to your collection procedures.
The amount lenders are likely to offer depends on the value of your invoices, the turnover of your business and other factors which affect the level of risk. For successful businesses that require a quick injection of working capital, invoice discounting could be an option.
Could my business be eligible for a merchant cash advance? If your business accepts debit or credit card payments, then merchant cash funding might work
Merchant cash advance companies, as the name suggests, are lenders that offer advances against the future debit or credit card payments you will receive from your customers. A merchant cash advance isn’t technically a loan, so it’s not bound by some of the restrictions which cover traditional loan lending.
If your company accepts credit or debit card payments for goods or services, then you may be able to access a cash advance against future card payments. The advanced sum is influenced by variables such as business turnover, track record of customer payments and amount of funding required. Interest is payable on the advance; this is repaid along, along with the advance, by taking a set percentage of the credit or debit card payments received for however long is needed to clear the debt.
For companies that feel this type of finance may work for them, we can explain in more detail how it operates, as well as find lenders who provide this type of product. Why not get in touch and take advantage of our no-obligation quote service for merchant cash advance programmes?
Business acquisition loans for bad credit; are there any out there? Many different business acquisition loans for UK companies are currently available
Business acquisition funding is notoriously tricky, not least because often there aren’t many assets which could be sold off as collateral should the newly acquired business begin to falter. Luckily lenders recognise this, which is why there are a number of different loan products on the market which have been specifically designed for business acquisition purposes.
Lending may take the form of an SBA 7a business acquisition loan (insured by the government) or some form of seller finance option. As business acquisition loan brokers, we’re able to find lenders who offer a variety of finance solutions if you’re looking to buy a business.
A poor credit record need not necessarily be a barrier to borrowing. Credit companies have a variety of perspectives on risk, with some being more willing to lend when the level of risk is felt to be high than others. Lenders may charge more interest or limit the amount that can be borrowed if they feel that a credit score suggests an elevated level of risk. Even if you’ve been refused a business acquisition loan in the past, it’s always worth asking if we’ve got anything suitable available.
Competitive business line of credit rates could give you the flexible lending needed to take advantage of investment opportunities or manage cash flow
Flexible finance can be a significant advantage for a business, particularly if they may need cash fast in order to benefit from a time-limited offer or promotion. It can also be useful to deal with cash flow issues, providing essential money for salaries, equipment or materials until revenue from invoices paid reaches your bank account.
Business line credit involves a pre-approved loan, which can be drawn on as and when required. If you don’t need the full value of the loan, you don’t withdraw it. Similarly, repayments can be flexible; this allows companies to tailor their borrowing and repayments around their changing financial circumstances, ensuring companies have what they need to respond pro-actively to opportunities. Businesses can borrow and repay money rapidly if they wish, as well as borrow up to the pre-set limit for the lifetime of the agreement.
The best business line of credit varies, depending on the nature of your business, your lending requirements and the degree of risk. Contact our friendly, well-informed support team to discover more about lines of credit.
A professional career development loan could enhance your earning potential as well as enable you to offer your clients a greater range of services
Many professionals find that in the current economic climate, sticking with the same skill set for the duration of their career isn’t a viable option. Not only do ways of working change quickly, but there are frequently occasions when additional training or qualification would be beneficial in order to enhance career development or provide the enhanced skills required to obtain a promotion or have a chance at a desirable post.
Meeting training costs can be challenge, which is why a professional career loan is a common choice. A professional career loan may be used towards tuition costs, as well as some of the other expenses associated with a course of study. Usually borrowers don’t have to pay back a career development loan until after their training is completed and they are in a position to start earning.
Commonly used to fund medical studies, career development loans can be suitable for many different study opportunities. If you feel that this type of borrowing could be for you, our team are happy to tell you more about your options, as well as provide you with a FREE, no-obligation quote. 187
What equipment funding is available for my business? There are several different products on offer to fund capital expenditure, including equipment
Particularly when it comes to business start up, a change in direction or a time of growth, there’s often a need to invest significantly in new equipment. Unfortunately, it’s also during these times that money can be particularly tight; either the business hasn’t begun to generate much of a profit yet, or expansion requires considerable revenue expense as well as expenditure on machinery or equipment. In these circumstances, borrowing to finance equipment may be the preferred option.
We can locate lenders that are able to provide a variety of equipment finance rates, depending on how much you want to borrow and what type of item you intend to buy. Equipment needn’t just relate to items that would appear on the asset inventory; some businesses may need addition funds to purchase smaller items for short-term use.
No matter what type of equipment purchase you need to make, we can usually put you in contact with a lender who will let you borrow the amount you need to provide your business with the goods required for successful trading.
Making the right decision on construction financing can give you the flexibility you need to deliver your project on time and to the required standard
Construction financing is a notoriously tricky area to navigate, particularly when you are dealing with complex partnership arrangements or may need to invest a considerable sum for a number of years before any return on investment begins to be realised. A construction finance loan could provide the necessary capital to get the project completed, enabling deliverers to get on with the implementation fairly rapidly once the funding is in place.
There are a number of different construction industry financing models out there, many of which are more straight-forward than you might think. Our experienced team are able to tell you more about the various options which we have on offer, as well as give you some initial ideal of the amount you might be able to borrow, what sort of format it might take and typical rates of interest. This helps to give you the information you need to decide whether a construction finance loan is going to be the best route for your business to follow.
My business is temporarily short of money for day-to-day expenses; would a working capital loan provide a suitable resolution to my current situation?
Although accountants use a particular definition of working capital, in everyday usage it’s generally taken to mean the amount of money which a business has available to cover short-term debt and to meet everyday expenses that crop up in the normal course of operation, such as salaries or materials. From time to time almost every business finds that their working capital is much lower than they would like. Not only does this make finding the cash to pay for materials or overheads difficult, it can also mean that the business can begin to founder, perhaps because there’s no money for the items needed to complete the next job, or not enough cash to pay staff.
The lenders we work with offer a selection of working capital loans for small business, presenting borrowing that’s suitable for organisations of all shapes and sizes. A working capital loan agreement often offers considerable flexibility when it comes to spending; many lenders don’t expect you to specify exactly what working capital business loans will be spent on. If you feel this type of borrowing might be of value for your circumstances, our team can give you a FREE, no-obligation quote.
I’ve had financial problems in the past; do I stand a chance of getting business loans for bad credit if I need some further borrowing to keep trading?
Many businesses go through a bad patch, which can see them default on loans, fail to pay their creditors on time and sail perilously close to bankruptcy. In addition, some business owners have less-than-ideal financial backgrounds; perhaps they’ve missed a mortgage repayment, left a bill unpaid for too long or failed to keep to a credit agreement. In such situations, it’s important to remember that there’s no such thing as “bad credit”. Obviously defaults, CCJs and similar issues do affect your credit rating, but that doesn’t automatically suggest that you need “business loans for bad credit”, it just means that lenders may see you as a higher risk relative to other borrowers. This may mean that your level of borrowing is reduced, or you pay more interest than low risk borrowers.
We work with a number of lenders that specialise in business loans for bad credit across the UK. They are often willing to lend to businesses which may be perceived as at higher risk of defaulting. Even if you’ve had significant financial upheaval in the past, it’s always worth getting in touch as we may be able to find borrowing that’s right for you. 195
My business isn’t very big and has a fairly minimal turnover; are there any loans for small businesses that might be appropriate for my circumstances?
Whether your business is just emerging and hasn’t had time to reach its full potential yet, or whether you’ve decided that your operation is going to remain small but beautiful, there are many different reasons why businesses are modest in size with a relatively small turnover. The advantage of small business start-up loans and similar products is that they are tailored to the needs of organisations that are looking for a quick, simple, basic solution to funding. Lenders understand that smaller businesses often have quite modest funding requirements and offer a range of affordable, straight-forward loan products that my provide a perfect solution.
Our team is geared to provide start-ups and micro-businesses with the information they need to apply for attractive rates on small business loans provided by our team of lenders. Often, a well-chosen loan can provide your business with the kick-start it needs to move onwards and upwards.
Do I need some collateral to take out an unsecured loan for my business? What are the benefits I can enjoy if I decide to apply for an unsecured loan?
As the name suggests, the key advantage of a small business loan that’s unsecured is that you don’t have to put up any collateral to apply for one. This means that in the unfortunate event that you’re unable to meet your repayments, your assets aren’t automatically forfeit; your lender would need to pursue the non-payment through the usual channels. In contrast, a secured loan is one where the money is lent on the basis that collateral is available (usually in the form of assets) to be taken in the event of non-payment.
Start-up unsecured business loans are a particularly popular option, as they provide much-needed funding for businesses during their early days of trading, when there may be few other borrowing options open and yet a significant need for additional cash.
We can find short-term secured loans as well as longer term products, enabling our customers to find borrowing that’s exactly right for their requirements. If you’re not sure of what types of loan are available, or need further information, our friendly, helpful team are always on hand to assist.
How long do I have to repay a short term business loan and how quickly can I have access to the money after my application has been approved?
Short-term, unsecured business loans are often an option when working capital is required quickly to keep the business going until a longer term solution can be found. In many cases, the loan is a quick fix for a temporary situation; perhaps some customers are slow to pay or there has been an unforeseen increase in staffing costs (for example an increase in business has generated the need to hire temporary staff, but there isn’t the cash available to pay them in the short-term).
There are a number of different options for short-term business loans in the UK; some businesses may want to opt for a traditional loan, repayable in regular instalments over a few months or a couple of years; others may prefer factoring invoices or pursuing a line of credit in order to get the quick cash they need.
The lenders we work with offer a wide range of short term business loans, including some that are suitable for businesses with a low credit score or individuals who have a history of defaults or other financial difficulties. These are often known as “bad credit” short-term business loans. Call us now for more information.
I want to buy some premises that are suitable for my business, will I be able to apply for a commercial mortgage, even if I don’t have a large deposit?
A commercial mortgage is a special type of loan that’s usually taken out to buy, redevelop or extend business property. There are many different types of commercial property, each of which may require a slightly different approach when it comes to a commercial mortgage.
We work with lenders who offer mortgages for businesses of all shapes and sizes. If you’re not sure what type of mortgage will suit, or even if you might be eligible for a mortgage, our team can answer all your initial questions, as well as give you some examples of the typical terms you might expect to receive from our lenders if you were to go ahead with your application.
Products include mortgages for borrowers with a limited deposit, as well as mortgages with a long repayment time that helps to keep instalments manageable. Some of our business mortgage rates are extremely competitive, giving you the chance to enjoy cost-effective borrowing that enables you to achieve your business’s property goals.
My business is very small; I want to know what type of micro-business loans you can offer that might be suitable and how do I go about applying for one?
Small businesses typically need access to relatively small amounts of finance (often only a few thousand pounds), but also require straight-forward loan terms, generous repayment time frames and competitive rates of interest.
Many smaller businesses find that a micro-loan taken out at the right time can help them buy vital equipment or provide a helpful boost to working capital during those critical early days of trading. It can be a good tool to give your business the means to provide a top-quality service that generates the customer interest you need for long-term, sustainable success.
The lenders we work with offer a selection of micro loans for start-up businesses that are designed to be easy to work with and quick to process and approve. Our team can go through the various loan products on offer, as well as make sure you’ve got the information you need to apply and give you some indicative rates and terms to help you decide if a micro-business loan is going to be right for your circumstances.