We source finance for UK business owners

Business finance is made up of financial products that are available to businesses that require additional capital.

These loans can be used to fund a range of business needs, from covering day-to-day operational expenses to financing expansion projects. Business loans are a form of debt financing, which means that the borrower is obligated to repay the borrowed amount, typically with interest, over a specified period.

Business loans play a crucial role in helping businesses manage their finances, invest in growth opportunities, and navigate cash flow challenges.

It is very common for businesses to look for additional funding, and in many cases this additional injection of capital helps companies invest in further growth.

Business loans can serve different purposes, including working capital needs, purchasing inventory, buying equipment, expanding operations, covering operating expenses, or consolidating existing debts.

They are typically split into three key categories:

• Term Loans: These are traditional loans with a fixed repayment term, often used for specific purposes like buying equipment or expanding facilities.

• Working Capital Loans: Short-term loans are used to cover operational expenses, such as payroll and inventory.

• Business Lines of Credit: A revolving credit line that businesses can draw from as needed, up to a predetermined limit.

The repayment period for business finance will vary depending on the type of loan you're taking out. for example, short-term loans might be repaid within a few months to a year, while long-term loans could have repayment terms of several years.

For an in-depth understanding of what type of business loan may best suit your circumstances, it is recommended to work with an experienced business finance broker.

When approached correctly, business finance can be quite simple to secure. There are a range of business loans tailored for different types of businesses and their unique needs, including poor credit and lower interest options.

Some types of business finance that can typically be accessed quickly and easily are business lines of credit, invoice financing, equipment financing, merchant cash advances and personal loans used for business purposes. 

These will, of course, all have differing terms and interest rates. Whether or not they will be available to you will depend on your business, its revenue and how much you are looking to borrow. 

However, finance options like invoice factoring and merchant cash advances can be accessed in as little as 24 hours. 

It is important to note that while the process of applying for business finance is straightforward in many cases, additional complexities like securing the loan can keep interest rates low. 

If you are hoping to acquire business funding and you're not under time constraints, it may be worth exploring business loans where the application process takes more time. This could keep costs down overall. 

Yes, sole traders are eligible for business loans. Some types of business finance, such as lines of credit, invoice factoring, and equipment financing, are more suitable for sole traders than others.

There are also specialist sole trader loans available. In this case, lenders will be more familiar with sole trader business structures and can offer a more tailored experience. 

 If you are looking to secure business finance as a sole trader, it does have some key differences:

• Personal Liability: In a sole proprietorship, the business and the owner are considered the same legal entity. This means that the sole trader is personally responsible for all business debts. If the business is unable to repay the loan, the sole trader's personal assets may be at risk.

• Creditworthiness: Lenders typically assess the creditworthiness of the business and the personal credit history of the sole trader when considering a loan application. A strong credit history and a well-documented business plan can enhance the likelihood of loan approval.

• Documentation: Sole traders may need to provide certain documents when applying for a business loan. This can include personal and business financial statements, tax returns, and other relevant financial documentation.

We are financial experts, specialising in sourcing business finance across the UK.

We can help you:

• Understand what kind of loans you're eligible for and how much you can borrow.

• Feel comfortable with how the process works and explain any costs.

On your behalf, we will:

• Compare rates across the entire market (from private lenders to high-street banks)

• Negotiate the best deal for your circumstances

• Guide you through the application process

• Make sure your application is completed as smoothly and stress-free as possible