Tracey Kane from Hastings based FundingBusiness lets us know what the options are for SME’s when it come to funding. Read on to see what the options are.
It is such a satisfying achievement to run your own business, but in order to succeed and promote growth within your organisation you may need to seek additional funding.
Managing the finances associated with your business is both hugely important and can be incredibly difficult to manage and many SMEs have felt the pinch after suffering rejection from their high street lender due to the economic downturn, however it shouldn’t hold you back as you might be unaware that there are alternative finance solutions and support available in the financial market.
It is a healthy exercise to regularly review the funding facilities of the business and the opportunities currently available. To promote growth and expansion businesses should also look at tailoring their funding requirements to their needs which may be the acquisition of bespoke machinery or restructuring the business.
Almost all small businesses require an injection of cash at some time in their trading life, sometimes at very short notice or as part of a long term plan. The key is to find a facility that works for your business and ultimately making an informed choice to promote success.
Potential Finance Options
- Asset Finance
- Business Angel Investment
- Cash Flow Finance
- Commercial Mortgages & Buy to Lets
- Equity Finance
- Invoice Discounting/Factoring – Raising Money from trade sales
- Leasehold Loans
- Secured & Unsecured Business Loans
- PDQ Loans – Raising Money against sales to the general public
There are many factors a business need to take into account when considering its options, including its size and turnover.
The key is to identify lenders who can provide the necessary funds that your business requires and enter into agreements which fully serve the needs of the business.
On average it can take almost a day to make a single application for a business loan. SME’s can take back control of their finances and save valuable time by talking to Commercial Finance Experts. You might find finance options available to you that you were not aware of.
If you are looking for more insight into the finance options for SME’s then checkout FundingBusiness on our B2B directory here.