Finance Options

We don’t supply finance ourselves but we have developed close working relationships with partners who do and would be able to put you in touch with them if you wanted to explore them further.

We don’t supply finance ourselves but we have developed close working relationships with partners who do and would be able to put you in touch with them if you wanted to explore them further.

 

Business Loans

 

There are several loan providers who specialise in business finance and understand the unique complexities and flow of commerce.

 

It’s also worth talking to your own business banking partner to see if they could welcome extra business or see how the British Business Bank could help.

 

Overdrafts

 

If you don’t need a huge amount then an overdraft on your existing business banking facility might be the easiest way to access additional cash.

 

Speak to your business banking partners early to establish terms and what else they can offer you based on your business case.

 

Grants

 

The government, local authorities and other bodies can offer specific grants to help fund and develop certain business activities and projects.

 

A grant doesn’t have to be paid back and is a strategic investment designed to improve the prospects and profitability of recipients.

 

Crowdfunding

 

Certain start-ups and newer industries have embraced the public funding format and there’s no reason that existing and better established businesses can’t enjoy similar success to raise funding for specific projects and products.

 

Several platforms exist to raise funds from many public investors with different rules and requirements depending on your end goal.

 

Factoring and Invoice Discounting

 

Factoring is a type of short-term financing that involves borrowing against any outstanding invoices you are owed from a specialist commercial finance company.

 

Typically they will advance 60% to 80% of the value of the invoice and assume responsibility for payment. You will have the funding but they will take over credit control, processing invoice payments and chasing up payment from your customers.

 

Invoice discounting is similar to factoring where a company borrows against outstanding invoices but maintains control and responsibility for chasing payments and processing invoices.

 

While both will supply a short term financial injection, neither should be entered into without advice.

 

Investment

A traditional method of improving and raising business finance is by investment.

 

Whether through a direct injection from directors or investors or through selling shares, it’s a more straightforward strategy and can be more preferable than arranging external finance.

 

Although new investment and investors could involve changes to the makeup of the business and overall management and control so should be explored and planned thoroughly.