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If you're in need of quick funding for a property purchase but don't have the necessary funds available, a bridging loan could be the solution you're looking for.
But what exactly are bridging loans and how do they work?
Whether you're a property investor or a developer looking to complete a project, bridging loans can provide the funding you need.
If you're a business owner looking to expand your company, you may be considering taking out a limited company loan. With various options available, it can be challenging to know which loan is right for your business.
In this article, we'll explore the different types of limited company loans and provide tips on how to choose the best one for your company's needs.
Non-homeowner business loans have become increasingly sought after in the UK due to a decrease in homeownership so there are a number of lenders who cater for non-homeowners.
As business loan eligibility is slightly different to personal loans, lenders favour applications from homeowners.
Quick business loans can be an important source of capital for any small business.
Same day approvals and payouts depends on:
Paying off your business loan early can be a good idea if you have the cash available, providing that it’s cost effective and doesn’t negatively impact on your business.
How you qualify for a business loan varies between lenders, however there are common criteria that you must meet.
Interest rates are applied to loans and are the cost of borrowing. Interest rates are applied to business loans so that the lender can make a profit from lending you the money.
You may have encountered a wide range of different rates when applying for finance and these can change daily for several reasons.
There is no “one size fits all” when it comes to eligibility for business loans due to the differences in business types, funding needs and lender criteria.
Finding the right lender and the correct facility for your requirements can be time consuming and differences in eligibility between lenders can make the process even more difficult.
When applying for a business loan, lenders will look at credit scores to assess whether you are eligible for a loan and will gauge this on how high or low your score is.
Credit scores are often used as an indication of how you manage your credit agreements and whether you can afford more credit. There are a wide range of small business loans available and choosing the right one for your company and borrowing needs is extremely important.
A small business loan is a form of finance aimed to help businesses access additional funding.
There are a wide range of small business loans available and choosing the right one for your company and borrowing needs is extremely important.
A short term business loan is a type of financing that has a repayment period of less than one year.
These loans are often used by businesses who need funds to cover gaps in cash flow or unexpected expenses.
Find out what a personal guarantee on a loan is.
As a condition of raising business finance, directors are often required to provide additional security to the lender by signing a personal guarantee. A personal guarantee is a legal promise to pay back a loan in full as per your agreement. In other words, an agreement to act as guarantor for the loan.
Find out the differences in secured and unsecured business finance.
Unsecured loans are those that are not secured against personal or business assets. Most secured loans are secured against property or business assets.
Find out what you can use as security for a secured business loan.
There are range of different types of assets that are eligible to be used as security. How much you can borrow depends on which type of asset you use as security.
Unsecured business loans do not use any tangible assets, either personal or business, as collateral when applying for business finance. When using unsecured finance, lenders look at your personal credit rating, business bank accounts and business financial reports, this is known as an affordability assessment.
How they decide on your suitability for business loans varies from lender to lender based upon their own predefined affordability criteria, but all lenders must ensure that they carry out responsible lending.
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According to the Bank of England, in 2022 Q1, there has been a strong demand for working capital finance as companies cope with unstable market conditions and the rise in material and labour costs.Revenue growth is good news for any business, but to improve efficiency you need to make investment and that requires cash flow.
Revenue, for many businesses has been impacted by the COVID-19 pandemic. However, there are other factors that have influenced revenue, such as seasonal trading or lower demand for products and services.
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All businesses need cash flow to succeed and if your cash flow is running low you will need to look for a cash flow injection. Effective cash flow management can help you analyse how healthy your cash flow is and look for ways to improve it.
There are a few ways to get a cash flow boost, with some easier than others. Increasing sales is an obvious way of boosting cash flow, however this is not always easy. A quick way to potentially boost sales is to carry out promotions and increase marketing.
What is Asset Depreciation and how is it calculated? Most assets will lose value over time, this is known as depreciation.
Depreciation is caused by age and wear and tear and can be calcualated in a number of ways.
Lease Rental or Hire Purchase agreements are types of asset finance, which companies can use to buy brand new assets or refinance existing assets. Asset finance can be used for almost all tangible assets.
For example, vehicles and wheeled equipment, plant and machinery amongst other items.
It is a vital tool for many organisations as it enables them to purchase equipment or release equity from existing assets already owned.
Invoice finance is a way to fund slow paying invoices without having to wait for your clients to pay.
It is a type of business finance offered to companies who want to release money tied up in outstanding invoices.
There are two main types of invoice finance - Invoice Factoring and Discounting.
It is a type of invoice finance offered to companies who want raise finance secured on their sales ledger.
Invoice factoring is also known as debt factoring and differs from the other type of invoice finance known as invoice discounting
Discounting is similar to invoice factoring, however the main difference is that you still remain in control of your sales ledger and therefore debts. Because of this, fees tend to be lower.
SMEs are currently chasing £50 billion in late payments from outstanding invoices.
The finance market has been unpredictable throughout the past 18 months due to COVID-19 pandemic and national lockdown in the UK.
Many businesses have been successful in securing government backed funding given the range of emergency funding implemented by the UK Government.
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Alternative finance providers have stepped up to fill the gap in traditional lending, which has been a lifeline for many businesses.
Many businesses can benefit from this alternative route when applying for a commercial business loan as it can be quicker and easier to seek out funding. Many lenders need minimal information to get the ball rolling.
When it comes to securing financing for your business, there are a few different avenues you can explore. Two of the most common options are working with a finance broker or directly with a lender.
While these may seem like interchangeable terms, there are some important differences between the two which can impact your overall experience and results.
The Recovery Loan Scheme launched on 6th April 2021 and ran until 30th June 2022.
For businesses looking to source external finance or to pay off their CBILS, bounce back or RLS loans, or to increase spending power, there are a range of options available.
Financial management is essential for all businesses, whether big or small. It's difficult for businesses to succeed without this. There has been a large decrease in the number of businesses trading over the past few years.
This guide will cover the main topics of how you can manage your cash flow effectively and sources of finance.
Property Development takes planning, time and most importantly money.
There are many routes you can take to become a property developer, either alone, in a partnership or using a property investment company.
Regardless of which route you take, you will always need adequate funding to get the ball rolling. Funding can come from a variety of sources......
Fintech/Financial Technology, refers to the combination of new technology systems and the traditional financial sectors operating methods. It incorporates the delivery and design of financial services that are accessed via online technologies......
You may still be studying or have recently graduated, either way you must be thinking about your next step, employment.
Finding a job can be a bit of minefield and gaining employment fresh out of university can be a little tricky.
But don't worry, here are some great tips to help you become a more employable web developer.
As most of you are aware Making Tax Digital comes into force in April 2019. The majority of businesses with UK taxable supplies in excess of £85k per annum will be caught by MTD.
‘UK taxable supplies’ means all income that has a UK place of supply and is subject to UK VAT at the zero, reduced or standard rate. It also includes ‘deemed’ supplies, for example where a UK business receives services from overseas that would be liable to VAT if bought from a UK supplier......
For many business owners, securing a loan can be a crucial step towards success. However, if you have a County Court Judgement (CCJ) on your credit record, it can make the process more challenging.
Obtaining business loans can be more difficult due to the impact of a CCJ on your credit file, however there are ways to increase your chances of approval.
Asset finance is a popular funding solution for businesses that require new equipment but don't have the cash flow to purchase it outright.
Whether it's for a new fleet of vehicles or upgraded machinery, asset finance allows businesses to spread the cost over a fixed term.
As a business owner, you know that having the right equipment is crucial to your success. But when it comes to obtaining that equipment, should you lease or buy?
It's a question that many business owners may struggle with, and the answer depends on your specific needs and circumstances.
As the business landscape evolves, so do the ways in which businesses access business finance. Gone are the days when traditional banks were the only source of loans for small and medium businesses.
In recent years, there has been a surge in alternative lending options and technological advancements that are changing the game.
Applying for a business loan can be a daunting task, but having all the necessary documents organised and ready to go can make the process much smoother.
From financial statements to business plans, there are several key documents that lenders will want to see before approving your loan application.
Knowing when to become VAT registered with HMRC is an important step in the life cycle of any business.
Being aware of the requirements set by HMRC is an essential part of making sure your business meets all the necessary criteria and doesn’t incur fines, penalties or unexpected liabilities.
With the introduction of Open Banking, loan applications will run smoother and safer for both customers and lenders.
Open banking access allows lenders to directly access your banking information, such as bank statements, so you don’t need to manually send documents.
Currently, the UK Corporation Tax rate is 19%. The corporation tax rates are changing in April 2023.
The rate will increase for most businesses, but unlike previous years the amount you pay will depend on your profits.
Starting a new business can be complex and time consuming. Having enough cash get the ball rolling will always be extremely important.
There are many sources of funding available to you but knowing which one is the best fit for you can be difficult.
As a business owner, you know that it's not always easy to get the capital you need to grow.
Whether your business is starting up or has been around for many years, it can be difficult to find ways to expand and thrive without enough capital to invest in your business.
From 1st January 2023 there will be a new late payment penalties and interest rates introduced by HMRC.
For late submission of VAT returns there will be a new points-based system, which will replace the current “default surcharge”.
For late payment of VAT returns there will be new interest rates applied and the amount you pay depends on how quick you make the payment.
If you want your business to be stable and profitable, you need to make sure that you are using your cash efficiently.
Too little investment and too much spending on the wrong things can have a massive impact on your finances.
Reducing costs is a common task for all businesses, with proper research and good decision making, you can save without compromising on the quality of your products or services.
Your credit score is an overall indication of how credit worthy your business is.
Most lenders will use your score when assessing any credit or loan application. To improve your score you need to ensure that you:
Business finance brokers can help you arrange finance and loans for your business and maximise your chances of approval.
Understanding the different types of finance available to you and the best options for your business, a broker can be a great tool to use when applying for a business loan.
All businesses need to carry out marketing in some shape or form. There are many ways to market your business, with some more expensive than others. When businesses are looking to save money and reduce spending, for many the first thing to be cut is their marketing budget.
There are many ways to pay for your next marketing campaign. We've listed our top 5
Cash flow is money moving in and out of a company. Incoming cash refers to revenue or external funding and outgoing cash are your expenses, such as stock purchases and wages.
One of the biggest challenges a company faces is the effective management of their operating cash flow. Whether you are a small business or large corporation, proper cash flow management can be the make or break of any business.
If you are applying for a business loan, there are a few ways to maximise your chances of approval. Given the amount of business loan lenders to choose from, having all the information at hand and knowing where to apply can help speed up the application process and hopefully help you get the funding.
The business loan application process can vary between lenders and brokers. Having a clear picture of how they operate is important.
1. Have your documents ready to provide to a broker or lender.
2. Pick the right lender/broker
3. Keep on top of communications with your broker.
4. Review loan offer and accept
What if I can’t pay my VAT Tax bill on time?
There are times when business and individuals struggle to pay their VAT and tax bills on time for a variety of reasons. This may be due to unexpected costs, reduced seasonal income or lack of general cashflow to name a few.
When a Vat or Tax bill is due HMRC will expect you to pay it straight away if they think you have the financial means to do so.
It is difficult to rate the advantages of using a finance broker by importance, due the varying reasons as to why companies chose to/are considering sourcing finance via a broker.
One of the most obvious advantages however......
A question many business owners ask but don’t know what options are available for their credit status.
When obtaining business finance via traditional banks and lenders, an adverse credit status can be another barrier or hurdle in finding a lender who is willing to lend to your business.
The best business loan for you and your company depends on what the funds will be used for. There are a wide range of different types of finance options available for different purposes and financial statuses.
There are too many factors and variables to take into consideration, and these vary from business to business, to say that one type of loan is the best for you and your needs.
Investment is always a wise move, especially when it comes to your business. One of the most effective ways to achieve long-term growth is through the acquisition of new plant and machinery.
Starting and managing a dental practice can be tricky, both financially and operationally. When it comes to specialist dental finance, it's important to understand what options are available to you so you are equipped with the necessary resources to ensure the success of your practice.
If you own a hospitality business, it's important to be aware of the financial options available.
Knowing what your financing options are will help you stay ahead of local competition and ensure that you have enough working capital for renovations, rebranding or relaunching efforts when the demand shifts
Construction finance is a broad term that covers a variety of loans, credit facilities and other financial products designed to support the construction industry with developments and projects.
With so many choices of lenders, loan types and terms, finding the best option can be difficult and time consuming.
Medical practice funding can be highly beneficial to a variety of practices for several reasons. Many practice owners are taking advantage of additional funding to:
There are many forms of SME funding available to UK businesses and selecting the correct lender can be a difficult task for business owners.
Selecting the most suitable SME finance product and provider is extremely important for several reasons.
Legal professionals are becoming more aware of the positives of using specialist finance facilities to assist in the operation of their business.
Many are using funding to;
Finding a business loan can be a bit of a rollercoaster and it's not always easy to stay on board. But, as with any other form of lending, there are some things you can do to make the process smoother.
In this article, we'll take a look at what you need to know about how loans can help your sole trader business grow.
As a small business owner, you know how important it is to have the cash flow you need to operate and to grow. But sometimes the cost of getting there can be prohibitive when you don't have the required resources.
But instead of reaching for the credit card when cash flow is tight, reach out for a small business loan. Business Loans can help you get back on track without having to break the bank.
There are a range of common costs involved in successfully running your business. There are a range of business loan specifically designed to meet the needs of ecommerce businesses looking fund their: