For my business to raise finance, who do I need to know?

While an arrangement to borrow money for a business is between a client and the lender, there are numerous other individuals involved to help the process with many needed before the application is even considered. In fact, I would say that the success of an application and drawdown facility for a business is dependent on the ‘power team’ in place…

The Impact Of Government Covid Measures On Business Finance

The Governments various COVID support measures are expected to cost approx. £500B once completed (various sources) but this doesn’t give the full picture when it comes to support for SMEs where there is a considerable amount of uncertainty about the final bill and will remain so for many years. There is also doubt over how these measures will impact on…

Personal Guarantees In Business Lending

One of the recent hot topics relating to the CBILS and Business Bounce Back Loan Schemes (BBL) was the absence of a personal guarantee for a majority of these loans for Limited Company borrowing. It has been a standard requirement for a majority of Limited Company lending that a personal guarantee from at least one director is in place to…

If My Bank Won’t Finance My Business, Where Else Can I Go?

If My Bank Won’t Finance My Business, Where Else Can I Go? Bank bashing has become a national pastime since the financial crash of 2008. The sight of bankers receiving a taxpayer bailout while continuing to pay themselves bonuses, plus the public scapegoating of the likes of Fred Goodwin made these institutions public enemy number one. Even now, over a…

Raising Finance For Buying A Business

Once you have made the decision to purchase a business, your next question probably turns to practicalities- how do you make it happen? A major part of this is likely to involve funding the project, which may in turn involve raising finance to facilitate this. The method of raising funds for buying a business depends on a number of factors…

The New Government Business Recovery Loan Scheme – An Overview!

The New Government Business Recovery Loan Scheme – An Overview! With the end of the Bounce Back Loan and CBILS Scheme, the Government announced the launch of the Recovery Loan Scheme beginning in April 2021. The key differences for the new scheme are as follows: There is no turnover threshold unlike the previous schemes Fees and interest are payable immediately,…

Give your business a Christmas present.

If your business seems to be stalling due to insufficient funding and is starved of cash, why not treat it to a cash injection? There are many reasons why a cash injection for a business is the right decision for a business owner to take, but sometimes the reason can seem bigger than the solution. Here are some scenarios where…

Planning for the NEW YEAR!

It is vital for business’s to keep on track with growth, performance and financial planning. New Year Business Resolutions might include: • Review and update your business plan, every small business must be guided by a business plan. … • Consider your staffing needs for the New Year. … • Check in with your customers. … • Revisit your pricing.…

Unsecured business loans – an update

Unsecured business loans – an update As many of you know, I get heavily involved in quick unsecured lending to businesses. It can be quite eye opening to them when they realise what’s available, the timescales involved and the ‘non-traditional’ forms of repaying these loans. In response to this, here is a quick bullet point summary of the current marketplace…

Variable or fixed rate lending

Whether you are considering borrowing to buy a house or for your business, one of the things you will need to consider is whether you want a fixed or variable rate loan. Fixed rate lending If you choose a fixed rate mortgage the interest you pay will stay the same for a set period which is usually between two and…