Business Finance – What Solution is Best?
Many businesses know they need money but don’t know what type of funding they need.
Most businesses will ask for either a loan or an overdraft. When they start applying for loans and overdraft they may find that they are not available or they rely mainly on personal security.
Understanding the type of funding you require is important and our advice is to look at the actual asset that is ‘causing you the problem’. For example, if you need to borrow money to purchase a new forklift truck you should be using the asset as security and borrowing by way of Hire Purchase or a Finance Lease. If for example late paying customers are causing you a cash flow problem use the debtor book to secure a cash flow solution such as an Invoice Discounting facility.
Sadly, if you type ‘business finance’ into a search engine you will be presented by a myriad of options ranging from short term loans in excess of 70% apr to banks offering support for businesses that rarely exists.
At Funding Solutions we are here to help you navigate your way through the business finance market. We help you choose the most suitable type of finance, explaining all your options. From there we will negotiate with lenders on your behalf ensuring you get the best possible structure and best possible pricing from the market. Your goals become our goals.
Importantly there is no hard sell. Just an explanation of your options so that you can make an informed decision.
If you require business finance advice contact Funding Solutions today on 0845 251 4040.