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Business Loans UK - Finding Finance That Delivers

Almost every business needs to borrow money at some time. They may need additional working capital to help with cash flow. Or they may want to invest in new equipment or products to sustain or grow the business.

If you’re wondering about the benefits of business loans UK banks and other lenders will be happy to advise you which they offer and those which could be suitable for your business, but remember a bank can only offer you products which they offer.

But before talking to specific lenders you should decide for yourself what benefits your business is looking for. This will help you determine which method of finance is right for you.

The benefits that most organisations are looking for from a loan are:

  • Flexibility in the amount that can be borrowed.
  • Low interest rates and inexpensive charges.
  • Small administrative overhead to set up and operate.
  • Minimal security required.

Business Loans UK Example – Invoice Factoring

One example of business loans UK organisations can use, and that supplies a number of the benefits listed above, is factoring. This is a way of borrowing money that effectively releases the cash that’s tied up in your business’ sales ledger.

If your business issues sales invoices to customers it may have to wait up to 90 days before receiving payment. Invoice factoring eliminates that waiting period. The lender pays you up to 90% of the invoice within a day or two of it being issued.

One of the major benefits of this type of lending is that no security is required. The lender is paid directly by your customer, and when they do, the outstanding balance, less any fees, is passed to you. The service can be confidential, so your customer is not aware.

Another advantage is that your entire credit control process is managed by your lender. They raise statements and chase customers for payment. You’re freed from what can be a time-consuming chore, giving you more time to spend on your business.

Factoring is a business loan, but it’s extremely flexible. You borrow what you want, and the amount you can borrow is limited only by the amount you invoice.

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

How Can Touch Financial Help?

We can provide you with impartial advice on business loans UK organisations can access. We’ve helped thousands of organisations find the right solution to their finance problem.

Because we’re one of the leading online commercial finance brokers we have access to exclusive rates and offers. Because we’re independent we’ll help you find the right product from the right lender in order to meet your specific needs.

We have a team of commercial finance experts who would happy to help you with any questions you might have. Why not make contact with Touch today and find out what we can do for you?

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