How can funding help my business grow?

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How can funding help my business grow?

How can funding help my business grow?

Looking for marketing funding can be tricky.  Over the last few years the high street banks have refused many customers based on the economic downturn and tighter lending provisions.  This however has led to a large increase in alternative finance lending options from various companies who specialize in alternative finance for small business and SME’s.

How can funding help my business grow?

Currently the UK government is looking to force UK banks to defer their decline loan applications through to alternative finance providers.  This can only be a good thing for the businesses who are refused by their local bank manager.  There are many other providers out there who can offer some great business loan products.

Crowdfunding:

Got a project or new start-up business that you want to get off the ground?  Maybe crowdfunding is your option.  By pitching your business idea to the ‘crowd’ and setting your investment goal you stand a great chance of getting the funding you need.  And, depending on your project pitch you get a real insight as to how the public and savvy investors think of your idea…..reality market research.  If the investment goes off the scale you kind of know you’re onto something!

Merchant Loans:

A Merchant Cash Advance is great if you are an existing business with at least 3-4 months trading history through a PDQ card machine (These are the devices which customers pop their card and PIN into at checkout).  The process is quite simple, the lender will advance an agreed loan amount based on past trading history.  A percentage of each future card sale is then used to pay off the loan amount.  The great thing is that if you have a quiet month you pay back less and if you have a busy month you pay back quicker.  It doesn’t affect your business ‘cash’ sales and there is no APR.  There is also no personal security required (i.e your personal assets / home etc).

Rich
Rich
I am the Founder of Desique Limited, an award winning Creative Design Agency based in Buckley, Flintshire, North Wales. My profile Visit me on Google+
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