Most businesses are at some point in their life faced with a deficiency of cash to fund their operations. This can arise for many reasons, including recent seasonality in the business, rapid growth, large projects and important fixed asset purchases.
In the last four years, an absolute myriad of funding solutions have sprung up, there are over 100 peer to peer lenders and at least 50 small businesses offering short term loans that are both secured and unsecured, including spot invoice discounting, trade facilities and plain loans. We often see businesses going for the first solution they come across instead of trying to consider the best of many options available. As a result, they usually pay more than they should.
Here at Key, we maintain knowledge of a large number of these new lenders so that we can always offer the client the best solution for their needs, which includes;
• Selective Invoice Finance– offering one or more invoices to a lender as security for a short-term loan. An excellent short-term alternative to invoice financing or factoring, which involves higher cost, long term commitment and ongoing bureaucracy.
• Supply Chain Finance- Payments made directly to suppliers using the credit insurance limits available on your business.
• Peer to Peer Lending– A vast variety of unsecured and part secured finance and loans accessed via specialist web-based platforms.
• Revolving Credit Facilities– Similar to a bank overdraft, allowing a business to draw and repay amounts as and when they require.
• Short Term Loans– Can be re paid over terms from a few weeks to a few years.
• Asset Finance– Borrowing against specific assets including ‘soft’ assets and fixtures and fittings, which carry negligible or no resale value.
For more information regarding fast and flexible finance for your business, please contact Key today.