Most businesses will borrow money at some point in their lives, but is it the right type of funding? Is it at the best rate? Can you reduce the security taken?
You could need it for working capital to cover day to day cash flow in the form of an overdraft, sales financing facility (Confidential invoice discounting etc.) or even stocking loans to finance the stock on the shelves, or cars on a forecourt etc. You may borrow money for specific asset purchases such as cars, machinery or even buildings, putting down a deposit and paying back on fixed terms.
Whatever your needs, having the right type and amount of business finance can often be the difference between success and failure. 20 years ago there were perhaps a dozen ‘Banks’, now there are perhaps 600+. The range of funding options and number of providers are now so large, that it will almost certainly require expertise if there are to be changes. Refinancing with the same bank is now almost the same as moving banks, new lending proposals to be agreed, financial information to be provided, and an anonymous decision by an invisible ‘credit’ team. Whilst the banking system should make switching Banks much simpler, in practical terms it is never a pain free process. So if you are looking at your existing funding, or looking to refinance, we can help.
Sometimes the issue is about whether anyone will even lend you the money, and sometimes it may be about interest rates and repayment terms. The information you produce and how you present it can make a significant difference to the offer you receive.
It is also critical to understand the financial risks that you are signing up to. Are there business guarantees? Charges against other business assets or even personal guarantees? Few people consider the future risks at the point they are borrowing money to expand or invest, but it is our job to think ahead and protect you from aggressive or excessive lending terms.