The right start-up loan?
Getting the right funding for your start up is vital to getting off on the right foot.
Bootstrapping (funding everything yourself through gradual growth) will keep the costs and maybe finance related risks down, but slower growth and inflexibility could mean you lose ground to competitors.
Equity finance can help you grow faster, but with the potential to lose full control over your “baby”.
There are various forms of crowdfunding which will be added into this page in the future
That leaves the traditional route – debt finance or a start-up loan.
Unlike the big banks we’re not offering a “cookie cutter” loan. A business loan should fit your business, so contact us to find out how we can help you.
We’ve been arranging funding since 1997 and, if you’ll forgive us for boasting but we think we’re quite good at it!
In fact – 7 x UK Best Broker Awards back us up in that assertion, so does our 5 star customer feedback.
So -for your buy to let mortgage needs, or anything else funding – make sure you use a broker you can trust.
What can I use a business loan for?
For cash-flow, business development, stock or growth, a business loan could be ideal.
In fact – so long as it’s legal you can probably raise funds to do it!
Alternatives to a Commercial Mortgage
In terms of the interest rate and repayment profile the mortgage is generally the best option for financing property.
Of course there are situations when a business mortgage won’t be available – you can see the general requirements for a successful mortgage application below.
How to get a business loan
The general requirements for a successful commercial mortgage application are straightforward and similar across all lenders;
- Who is the applicant?
- What are the funds for?
- How will the funds be repaid?
Different lenders will set different height “bars” for each of the three requirements. For instance some lenders might require significant business experience or set a high debt servicing cover requirement (DSCR – profit compared to mortgage payments.)
For more information on how to get a business loan click here. (Coming soon)
Bridging loans for businesses
There is a variety of circumstances which could make a business mortgage unavailable, these might be around the applicant, the business or around the property.
Bridging finance can be used to meet a number of these areas;
- Property improvements.
- Starting up a business in the property.
- Business development.
- Short term funding needs for other reasons.
A more flexible alternative to a commercial mortgage, especially a remortgage could be a business loan. The requirements for a business loan might be less stringent, especially around the property.
Because the repayment term of a business loan (especially an unsecured loan) will be much shorter – the repayments will be much higher, even for a smaller amount (Using our commercial mortgage calculator compare a 25 year term to a 5 year term and see the difference in repayments.)
Contact us now on 0808 164 2364
Acorn.finance – 4th Floor, Silverstream House, London. W1T 6EB