When it comes to obtaining finance for your business, the options are seemingly endless. From short-term loans through to invoice factoring, each product offers its own benefits and comes with its limitations. Once you know what you are looking for, then comes the question of who you should approach for this finance - should you go for a high street bank or are you more likely to be successful with a niche lender?
As with all major business decisions there is not a one size fits all answer. What may be right for one business could be completely wrong for another. It is vital that you locate the best option for your business, one that will not only satisfy your short-term needs but will also meet your longer term strategic goals. The experts at Real Business Finance will take the time to understand your business and the motivations behind your search for funding.
We will consider the whole range of finance options on the market and suggest the most appropriate funding channel for you. Some of the most popular forms of business finance are as follows:
- Invoice Finance – Late payments from clients in as unfortunate but inevitable part of running a business. Left alone, this can become a huge issue for businesses, crippling cash flow and halting future projects. Invoice finance is a great way to unlock the capital tied up in outstanding invoices. You can get immediate access to an agreed percentage of your unpaid invoices, providing you with a level of certainty when it comes to the money coming into your company.
- Asset Finance – As a business grows, the need for updated tools and machinery can be the difference between staying at the forefront of your field, or lagging behind unable to keep up with demand. Asset finance comes in various forms and allows you to purchase the equipment you need in an affordable way.
- Business Loans – Whether you need the money to finance a major growth product, or to purchase stock, a business loan could be the solution you are looking for. The market is varied, with both high street banks and challenger banks offering loans for any purpose. Loans can be taken out on a short-term basis or can run for longer depending on the amount you wish to borrow and what you plan to use this money for.
- Commercial Property Loans – Purchasing a premise from which to run your business requires a specialised commercial property loan. They work on a very similar premise to a traditional residential mortgage, although the interest rate levied is typically slightly higher. This is a major investment, so you should ensure you take expert financial advice before proceeding.
- Start Up Loans – If you are a start-up business, you may find the search for funding more challenging than most. However, there are specialised loans and streams of finance available designed with these companies in mind. From government-back loans to crowdfunding, the options for start-ups have never been greater.