Business Loan – tailor made loans for your business.
Small businesses are still getting the raw end of the deal when it comes to banking and lending. The big banks are constantly advertising how great they are for small business but the reality is often very different.
We all know that situation, just when you think the loan is sorted the bank come back for more information and paperwork and it all takes another few weeks to get a decision.
With most business owners going only to their own bank for a loan quote there’s very little competition. How will you know the terms they offer are the best you could get?
Crazy as it sounds – not borrowing enough for your business is virtually as risky as borrowing too much.
If you don’t have enough capital to complete the project that you are funding, then the potential of leaving something half finished could be worse than not starting it at all.
Understand all the costs and work in a contingency if it’s needed.
Lenders want to know who they are lending to, why and how they will get their money back. Not having up to date accounts, directors on board or basic information available will bring your application to a rapid halt.
Having bad credit is not the end of the line when it comes to applying for a loan for your business – but not disclosing it can be a major problem.
Check all directors credit before applying and, if there’s something wrong, forget your bank, start working with us immediately.
What’s the money for? What difference will borrowing make to your business?
Without a plan the funder is not going to understand why they are lending you the money or when to expect it back!
A business loan can be a major commitment, understand what you are signing and if in doubt get an expert to explain it to you.
If you’ve got collateral but don’t want to risk it for your business then why should the lender take a risk on you?
If you don’t have the confidence to back your business then why should they?
The best Return on Investment (ROI)
Working with the best lender for your particular proposition means that your deposit will go further and you’ll be able to buy a more profitable business. Getting the best possible business for your money could man the difference between massive success and failure. Of course the right business with the most potential is perfect for the some, while tweaking an already good business works for others.
It’s important to understand your personal strengths and skills before settling on which unit to purchase.
Buying a profitable business means less risk, even if you are borrowing more the fact that the business is already capable of paying the business loan or commercial mortgage then the risk is far lower than that of starting from scratch.
Saving you time – getting the funding you need faster