Sourcing the right funding for your business can be the first step in achieving your growth goals, or the helping hand you need when you’re in a cash flow hole.
Cash is king when it comes to funding your growth plan. But with the funding market now bursting with a huge choice of traditional and alternative finance providers, knowing what type of finance to opt for, and from which provider, can be a complex decision.
Choosing the right finance for your business
The type of growth you’re aiming for will determine the kind of finance that’s most suitable. So, if a quick cash injection is needed to hire extra staff, you might opt for invoice financing. Whereas a long-term scale-up project would need a larger secured business loan, or private investment.
To make your funding search successful:
- Know what you need to borrow and why – be clear about your goal, why it’s business-critical and where the additional money will be used.
- Have a clear budget and a healthy balance sheet – lenders will take you more seriously if you’ve estimated your growth budget and your financials are looking healthy.
- Look for the best terms and interest rates – a loan on unfavourable terms will be more of a hindrance than a benefit. So shop around and look for providers who can give you the deal that you’re looking for.
Talk to us about accessing the best funding
If you’re looking to access additional finance, we’ll help you work out your budget and search for the best possible funding options – providing the money you need to meet your business goals.
Get in touch with Marc on 01752 752210 and we can help you find your ideal funding.