Originally written by fundingoptions on Small Business
Following a lengthy period of unprecedented disruption, hospitality businesses across the UK are once again gearing up for growth. So, what financial options are out there today?
Meeting hospitality business’ cash flow needs
If you run a hospitality business, you may be in need of a cash flow boost to help you grow your business post lockdown or to adapt your premises for customers.
Whatever your circumstances, there are a few funding options to choose from.
Examples of what you can use business funding for:
Hire new employees
Purchase more stock or inventory
Purchase new equipment (e.g. refrigeration equipment) machinery or vehicles
A refurbishment of your premises
A gap in funding
The days of having to rely on your high-street business bank for finance are long gone.
Alternative (or non-bank) lenders have been funding businesses of all shapes and sizes for years. In addition to this, the Recovery Loan Scheme (RLS), the newest iteration of government supported lending has recently gone live and will enable many more businesses to get the vital funding they need.
Here are a few examples of business finance types that could help you boost your venue’s cash flow as we continue to emerge from the lockdown.
1. Unsecured loans
Unsecured loans are available