A guide to funding your next level move …
If you are planning your next stage of growth, chances are you will be seeking finance.
Through my work as a business performance specialist, I know that many business owners limit their choices around finance by approaching a few, or in some cases, just one lender.
At Meades, I am committed to supporting our clients in every aspect of business growth, and that includes raising finance. Through our partnership with Capitalise we can help you to access institutional lenders, including high street banks, alternative lenders and independent lenders.
What type of funding do you need?
If you need to fund tools, equipment and machinery for your business, either as a start-up or for the next stage of your growth plans, asset funding is an option. To avoid upfront costs, you can even spread the payments over a number of months, or simply lease the assets for as long as you need them.
Cash flow is the fatal flaw in many business models and even companies that are profitable ‘on paper’ can sometimes fall foul of growing lists of unpaid invoices. One solution is to set up invoice financing, where you can access immediate funding against invoices you have raised by advancing a percentage of receivables.
Merchant Cash Advance:
If your business takes regular payments through a card reader, then you may be eligible for a merchant cash advance. This, often overlooked, option means you can receive a lump sum payment, which is repaid each time you take a credit or debit card payment.
This is a comprehensive solution which means your company’s entire supply chain, from start to finish, can be financed. It works by the funding company purchasing stock from suppliers on your behalf, with loans secured against all new purchase orders.
Working Capital Finance:
In essence, this is like a general or multi-purpose business loan that can help you to keep on top of everything and keep the pressure off. These funds can be used for anything from staff wages and stock purchase through to utility bills and premises rental.
This kind of funding is useful for property developers and investors, or if you are looking to buy your existing or new premises. These types of purchases are typically leveraged, and companies can access bridging loans or development and commercial finance.
Your next steps
As with anything in business, the key to getting the best (not always the cheapest, but certainly the most relevant) funding solution is choice and market knowledge. In other words, what most business owners don’t know is that there is a wide range of funding options out there, depending on the requirements, circumstances and future potential of the business. You simply don’t know what you don’t know.
Get in touch now to discuss your finance options.
Access even more funding choices through Capitalise