Frequently Asked Questions
You may click each frequently asked question below to read more about the subject.
Alternative business finance is a sector that was created to support businesses that may struggle to get funds from conventional banks. The sector has grown vastly following the last recession ‘The credit crunch of 2008’, the need for quick and flexible credit will always be a commodity for all types of businesses.
Simply by being honest and open about how well or not so well your business is performing when communicating with your broker. We need to fully understand the position the business is in, so that we can find the best solution to help you raise the funds you require.
The interest rate varies just as it would with banks, but the same principles for calculating the rates apply such as credit score, strength of the company’s balance sheet and other tangibles when applying.
There are various advantages such as: – Time, loans can be completed within days and weeks rather than months it can take with banks. Flexibility, revolving credit lines can sit in the background to be used as and when needed. Top ups – rather than having to go through whole applications again, clients that stick to the agreements of the loan will be able to increase and top up the funds from the lenders they’re in contract with without starting from scratch.
Technically no, but just know that cash is no longer king! In today’s digital world more than 50% of all customers will make payments either by a contactless card or their mobile phones so to make sure you don’t miss out on sales YES you do!!
There is a rental cost for the card terminal unless you purchase it outright also small fees, along with a percentage of each transaction being taken, but that’s where we come in to help save you money by getting you on the lowest tariffs available.
As before mentioned not missing out on sales, but other advantages will be easier cash ups that you can simply print off after each day, week or month to help you with keeping on top of your accounts for stress free running of your business.
By getting in touch with us today, so we can see how we can be of help to you and your business.