Secured and unsecured business loans are very different products. Each has their own distinct agreement which secures the loan amount in different ways. Understanding these differences will help you determine which is best ...
If your small business will struggle to pay its annual tax bill, a tax loan could be the timely solution you are looking for to resolve the issue. Businesses can borrow up to 100 per cent of their tax bill and repay that ...
If you have been trading less then 3 years or are a Start Up Business please see our start up page.
If you are not a start-up we require three months business bank statements to progress your application
How long does it take to get approved?
Our process is extremely quick and in most cases funding can be agreed within 2 hours, meaning you do not have to wait long periods of time wait for a decision.
Does my business qualify for business finance?
If you are a Start Up Business please see our Start UP page.
To be eligible for our business finance agreements your business needs to be registered as limited company or you will need to incorporate for us to consider your business for funding.
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Tips on buying a business
Make that that life-changing decision that sees you being the boss by owning your own business. It may not be for everyone, but if you do find yourself thinking about this, make sure you follow our advice:
Find the right business to buy. You must decide on the Industry Sector before you decide on the actual business you want to buy. Be sure that you have enough knowledge and experience in the chosen industry. You need to consider the size, profitability, location and number of staff, complete with realistic figures, proposed working arrangements, opening hours and financial forecasts of the venture.
The value of the business. There are several things you should consider when assessing a business for sale, of course, knowledge of the sector and industry are essential. What services does the business offer? Does it come with tangible assets, such as equipment and furniture? What about intangible assets, such as its brand and customer lists? Is it profitable? Are employees paid in line with the local competition? Are the premises owned or rented? Is the business managing its debt efficiently? Are all finances up to date? Does the business sale include stock? Is the valuation in line with other businesses for sale on the market, do not just rely on the word of the seller. Why is the current owner selling?
Find a solicitor you can trust. Make sure the funds you use to purchase the business pass from your Solicitor to the sellers Solicitor. NEVER just pay the seller directly!
Account for all costs. From Solicitor fees to start up cash flow. Buying a business comes with a lot of expenses. So make sure the business is truly worth it before you start ploughing money into it. Make sure, also, that you take every potential outlay into consideration, for example staff wages and stock will need to be paid for immediately along with rent and business rates and marketing.
Please speak to one of our team for either more advise or to be considered for funding for the purchase of a business.