- 13 Apr
Alternative Finance If Declined By A Bank
If your company is having difficulty finding business finance through traditional sources i.e. banks, you may want to turn to the alternative finance market, which will provide further options.
There are plenty of alternative finance solutions here, we have arrangements in place with a large number of funders that can help in a wide range of circumstances. These include alternatives to overdraft, that can offer you additional benefits, if you have been declined for a facility by your bank.
One option is a business loan from an alternative lender. The criteria applied by an alternative funder are likely to differ from the banks. So even if you didn’t qualify for a bank loan, there may still be other lenders that will be prepared to offer you a loan for your company.
Another option is invoice financing. This is funding against your sales invoices, so that you don’t wait for them to be paid before you receive funds. If you have a large sales ledger of outstanding invoices, this type of funding can release quite a large amount of finance.
Because this type of funding is secured against your outstanding sales invoices, the funder is able to take a more liberal view regarding the credit standing of your company.
Alternative Finance Whatever Your Circumstances
We have funding partners that are prepared to finance the full range of businesses from start-ups without a track record, to fast growing companies through to companies that are in CVA or are suffering other creditor pressure problems. Whatever your circumstances, there are still likely to be options available to you.
To understand the options that are available to your company, please contact Sean on 03330 113622 to discuss how we can find your business alternative finance.