Ways to Find Business Loans

You’ve decided that your business needs to borrow some money. The injection of working capital will ease cash flow and allow investment, stimulating business growth.

You could go to your bank for the money. They will have a range of business loans and other lending products from which to choose, each with different advantages.

But before you go to your bank you should consider taking objective advice from a third party, an expert who understands the finance products available across the market and who’s worked with small businesses in your situation.

Commercial finance brokers, like Touch Financial, do exactly that. They can look at the bigger picture and find solutions that may be more appropriate, and more cost-effective, than those offered by your bank.

Potential commercial finance options

Business loans take a number of forms. Here are the most common options:

• Loan of a fixed amount, repayable in instalments.
• Commercial mortgage to buy property.
• Loan to purchase a specific asset.
• An agreed overdraft facility.
• Invoice finance – discounting or factoring.

You want the loan that’s easiest to arrange, that’s inexpensive to operate, and that’s as flexible as possible.

Invoice finance – discounting or factoring – is one such lending solution, and it has the advantage of not being secured on any assets.

Invoice Finance Explained

Invoice discounting and factoring are great solutions to the problem of business loans. They allow you to release money tied up in the sales ledger, easing cash flow and providing funds for business development.

Both allow you faster access to money you’ve invoiced. When you enter into an invoice finance arrangement you can be advanced up to 90% of the value of your sales ledger.

Every invoice you raise after that gives you access to more funds. When your customer pays, the lender gives you the outstanding balance after deducting a small fee.

It’s flexible, easy to arrange, and you don’t use assets as security.

Find out how much you could release from your sales ledger instantly online >>

Who Are Touch Financial?

We’re the UK’s leading online commercial finance broker. What that means to you is that we offer independent, impartial advice to businesses looking for finance. We can help you with finding business loans.

What’s even better is that it won’t cost you a penny. Our fees are paid by the lender, not you. We work with over 20 lenders, including major banks such as Lloyds TSB Commercial Finance and the Royal Bank of Scotland.

Our team of finance experts have helped thousands of organisations in the UK with their finance needs, and they’re happy to give you all the help and advice that you need. Make contact with Touch today to find out what we can do for you.

Compare factoring quotes instantly online >>

Also in this section:

• Guide to business finance loans
• How to find medium term business loans
• How to get business loans
• Overview of new business startup loan
• Business startup loan