Things you didn’t know about Commercial Finance

While it may seem really difficult to explore financing options for your business through a moneylender or bank, there are always great choices available for SME businesses if you look at the right places.

Take a look at these seven things you probably don’t know about commercial finance in the UK for SME businesses:

1. Regardless of Cash Flow Difficulties in the Past, You Can Still Get Secure Funding to Expand and Grow Your Business

Invoice financing is ideal for small to medium-sized businesses that have either been victims of late payment or need capital resources to fund their expansion plans and growth goals.

2. You Can Invest in Assets Without Damaging Your Cash Flow

Asset financing options let you invest in equipment, plant and machinery without tying in extra cash for these purchases. This is particularly helpful for growing SMEs that need equipment to diversify and expand their profile but are running short on the financial front.

3. You Can Gain Ownership of the Assets After the End of the Agreement

This type of asset financing is called hire purchase. You get full ownership of the asset once the agreement is over, and the payment schedule can also be made according to your budget.

4. You can also Get Expensive Equipment via Financial Lease

In case you want to avoid purchasing equipment but use it on a rental basis within a competitive budget, the financial lease option is an ideal choice. With this type of asset financing, the rentals of your equipment are more tailored to your cash flow, and you can start earning with your acquired assets almost immediately.

5. You Can Get Capital Based on Your Assets

When you are running low on cash and are restricted by the overdraft facilities, there is still a way to get quick and easy-to-access financing – by taking advantage of your assets. A lot of businesses have their money locked into expensive assets like machinery, stocks and property. Asset-based financing allows you to release these funds into your business and is a stable alternative to traditional lending.

6. You can Get a Business Loan Even if You Don’t Have a Business Plan

At Stephens Accountants, we help all kinds of SME businesses and start-ups secure funding and find competitive loans regardless of their industry or size. Steer clear of lengthy applications and detailed business plans when you choose us – we help you find innovative business loans from £5,000 to £500,000 at competitive rates with a simple and quick process.

7. You can Compare Various Commercial Financing Options Before Choosing the Right One for You

Every SME business is different, and practical finance options for them can also be equally diverse.

At Stephens Accountants, we will work with you to find the best packages for all leading commercial finance packages. Plus, we offer one-on-one advice on all things commercial finance, so you can decide and choose the option that best fulfils the financing needs of your SME business.