Today’s economic climate can look a little bleak to the untrained eye. Lenders throughout the UK have downscaled or are no longer able to help applicants and potential borrowers are increasingly struggling to secure the money they need. But there are opportunities out there to secure small business finance….you just need to know where to look.

The impact on small to medium businesses of reduced lending has been immense and many companies have unfortunately not survived the recession, as little help has been available to pull them through low-income months.

To Bank or Not to Bank?

To kick-start confidence and growth in the economy, a fresh view on investing in the life-blood of the UK economy – the SME – is needed. High street banks and major lending companies advertise appealing loan rates and the possibility of borrowing impressive sums, but all too often the bank is unable to deliver or the associated paperwork becomes a put-off. Furthermore, there are many business owners who are concerned about borrowing because monthly income is unpredictable.

Approaching a bank or high street lender is an obvious choice for finance and it may be the right one for your business. But it’s always wise to know the options and where alternative financial providers may better appeal due to your needs and aspirations.

Earnings Linked Repayments

Did you know you can borrow and repay in line with your earnings? Business cash advances are directly linked to company turnover. For customers who are concerned about borrowing funds in an uncertain economic marketplace, business success linked finance may be the ideal solution. Repayments depend upon the turnover of your business and not on a fixed amount or period of time. Own a hotel and want to refurbish the rooms in the quiet season, but can’t afford the repayments as takings are low? A business cash advance would let you borrow, pay back low monthly amounts and enables you to capitalise on the opportunity to invest in your small business at the optimum time.

Control your Repayment Destiny

Another benefit of this form of borrowing is that potentially, the money can be repaid in a much shorter time period than traditional bank loans, which stipulate a term from outset. The sooner your business generates higher income, the sooner your cash advance is repaid. Hard earned efforts in growing the business are rewarded in quicker repayment and with no hidden fees, costs or charges.

With innovative lending options now on offer, it’s a good time to investing in your small business and help revive the a little bit along the way.