When you are in the start up phase of a business, managing your cash flow can be difficult and incredibly frustrating. Not only are you working really hard to set up and establish your business but you are also having to put time and energy into efficiently and effectively running your business. Starting a business can seem a bit like a juggling act, with you having to keep your eyes on several balls all at the same time!
As a start-up you may need some extra money to buy a new piece of equipment, or premises, or you may simply need some extra cash to bridge that gap between making payments and getting paid by your customers.
A business start-up loan can be used for all of these finance requirements and it can help provide your business with the working capital it needs to keep your business growing and to ensure its future success.
Unsecured business loans
Often when a business needs to borrow money, lenders require some form of security, so that if you are unable to repay the loan, they will be able to sell your assets to get their money back. However if you are a new start-up business looking for a loan, you may not have any security to offer.
Therefore you will need to look for an unsecured loan. These types of loans can be harder to find and often don’t provide as much money as you need. However unsecured loans are reasonably quick to arrange so you can often access the funds within a few days, which will make all the difference to a new business.
If you need a business start-up loan, you are not just restricted to unsecured business loans, there are plenty of other forms of lending that offer all the same benefits of unsecured loans, plus more. These options include Invoice Financing – Discounting and Factoring.
Invoice finance for new business
One of the most flexible forms of business finance which is gaining popularity in the business world is Invoice Finance.
The benefits of Invoice Finance are:
- It unlocks the money that is locked in your sales ledger
- It gives you immediate access to the funds that you have already earned
- You get paid up to 95% of your sales invoices as soon as you raise the invoices
- You spend less time worrying about your cash flow
- The service can be kept confidential
- It is a flexible and controllable form of business finance
For further information regarding business loans please contact our advice team on 0800 597 4757 or apply online using the form opposite.
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- Ways to find business loans
- Guide to arranging a small business loan
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