Personal loans are a great way to access funds for various business purposes, but if the payments are too high, they can become a burden on your cash flow.
Tag Archive for Loans
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Why Small Businesses Should Look for Alternative Capital Financing
by Imran Tariq • • 0 Comments
Private equity and venture-capital firms take far too long to navigate small-business owners through loan applications.
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This Free Service Makes It Easy to Find the Right Loan for Your Small Business
by Entrepreneur Store • • 0 Comments
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How to recognize a fraud of an app that lends money?
by Iván Vázquez Islas • • 0 Comments
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Labour to offer 2.5bn interest-free loans to help small businesses switch to electric vehicles
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Labour will introduce 2.5 million interest-free loans to help small businesses, sole traders and low-income households to buy electric cars.
Speaking on the BBC Today programme, shadow chancellor John McDonnell said the loans of up to £35,000 would cover the £1,500 cost of interest on a loan, with individuals saving up to £5,000 over time.
McDonnell said: “This will stimulate the automotive industry, it will sustain jobs in the conversion from fossil fuels to electric but actually it will create new jobs as well.
“So this is beneficial in terms of the climate, it is beneficial for those people who want to convert their carbon-fuel powered car into an electric vehicle that is sustainable.
“At same time it will help support the automotive industry and create jobs. Those jobs are in areas where we have had real issues, particularly with Brexit.”
The interest-free loans will require participation in a mass trial of Vehicle-2-Grid technology that will allow the UK to transition to renewable energy.
This new technology will allow electric cars to store excess energy from the national grid, smoothing energy supply from renewable sources.
Today, shadow business secretary Rebecca Long Bailey will announce at the Labour Party conference in Brighton that, if elected, it will build a national network of electric vehicle charging point at
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Start Up Loans Q&A: how do I get a loan for my new business?
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
Securing finance is often one of the biggest challenges a start-up business will encounter.
We caught up with Richard Bearman, the managing director of Start Up Loans, to find out where you should begin.
What can start-up business owners do to improve their chances of securing a business loan?
Securing a loan is often crucial to the success of any new business, and I’m often asked what people can do to increase their chances of getting one.
First and foremost, it’s important to have a clear and sensible business plan. This may sound obvious, but you’d be surprised how often business plans are overlooked, as businesses rush ahead to get their idea off the ground.
While it may seem like an unnecessary piece of work for the person setting up the business, business plans provide all the information that a potential lender needs in order to gauge the prospects of the business. It doesn’t matter whether someone is applying to an alternative lender or to a lender such as a retail bank, it’s vital that they present a clear, realistic and sensible business plan to convince the funder that their business is worth investing in.
What common mistakes do
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Best small business loans in the UK
by Partner Content • • 0 Comments
Originally written by Partner Content on Small Business
As a small business owner you might be thinking about loans as a way of starting or growing your company.
Unfortunately, loans are notoriously complicated, riddled with complex terms and teeny tiny small print. Let us demystify the process and show you some of the best small business loans around.
Is a small business loan right for me?
It depends what type of business you have, how developed you are and what you need the loan for.
For example, some loans aren’t great for seasonal businesses as making repayments during off-peak times of year will be challenging.
In this case it’s worth considering other funding options like friends and family, crowdfunding, incubators, venture capital, small business grants or switching your business bank account. Check out our rundown of the best business bank accounts open to UK SMEs.
If you want to go ahead, you can do a few things to improve your chances of success. Make sure you’re as clear as possible on how much you need to borrow and what exactly the loan would be used for. Work the loan into your business plan and have a cash flow forecast ready, making sure you include loan repayments.
Having these
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Merchant cash advance – the funding option that’s made for retailers
by Partner Content • • 0 Comments
Originally written by Partner Content on Small Business
In the past, when a business needed finance to grow their business or solve a cash flow challenge, they applied for a business loan. Makes sense, right? Your business needs some cash and a loan gives you just that.
But sometimes a straightforward business loan isn’t the right option for every business. Take retailers as an example. Retailers need to buy stock and pay for staff, equipment and premises. But their income is generally made up of small payments from customers. And most retailers are susceptible to seasonal spikes and troughs in revenue, which often does not give them the best chance of repaying that standard business loan on time.
This is the challenge that can be solved by the merchant cash advance.
What is a merchant cash advance?
A merchant cash advance is a relatively new type of funding that’s designed for businesses that use card terminals to process customer payments.
You simply borrow a set amount and make your repayments as a percentage of each card terminal payment until you’ve paid off the full amount. You can generally borrow up to the equivalent of a month’s turnover with a merchant cash advance.
What makes a merchant cash
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Rising Interest Rates Are Creating Refinancing Headaches for Small Businesses
by Mark Abell • • 0 Comments
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Thousands of small businesses just got a better chance of getting funded
by Michael Somerville • • 0 Comments
As small businesses continue to apply for fewer loans through high street banks, alternative lenders are having their moment. That’s because the British Business Bank (BBB) has now extended their existing partnership with alternative loans platform Funding Circle and has committed up to £150 million in new lending for UK small businesses. The transaction is made
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