By Timothy Adler on Small Business – Advice and Ideas for UK Small Businesses and SMEs
Running a successful small business requires healthy cash flow, sustainable growth, adaptability, and forward-planning. Naturally this may mean you require an extra injection of cash from time to time.
Business loans are one of the most common sources of finance for SMEs and with the growth in alternative finance providers, such as Capify, over the past decade, there are now loans designed to cover the specific needs of almost every organisation, no matter what shape or size.
Whether you want to hire more staff, ease cash flow issues, renovate your premises or even invest in new equipment, a business loan may be the right option for you. But where do you start?
In this guide we share our top tips and the steps you should take to get the type of small business loan you really need. These include:
Creating a business plan
How to research available lenders
Determining your chances of getting approved
Making sure you have all the necessary documents
Reviewing the proposed loan carefully
But first, let’s look a bit further into small business loans and the things that business owners looking for finance need to be aware of.
What is a