Let your business thrive. Get the best commercial finance options available to fund growth opportunities and help you to achieve your goals
Commercial finances are loans arranged for a variety of businesses – big or small, usually to assist with short-term funding needs for operational costs or for acquiring equipment to facilitate operations. It may also be of help in meeting basic operational requirements like financing payroll or supplies purchases for manufacturing and production. We can help with commercial finance.
What DOES IT COVER?
Commercial finance is a funding arrangement between your company and a financial institution. Typically, it funds your business’ major capital expenditures to cover operational costs. Upfront costs are often a burden especially for small to medium businesses which mean commercial finance products provide a lot of assistance to get things going, or keep things moving.
Whether it’s a core expense like equipment purchases or rudimentary requirements like getting supplies and even payroll, commercial financing will definitely get you covered.
HOW DOES IT WORK?
More often than not, commercial finance requires a collateral, normally in the form of property or equipment as a security for the institution or the bank in case your company or the borrower defaults or go into bankruptcy. Other times, cash flows generated from future accounts receivable may also be used as a guarantee.
As with every other type of loan, your creditworthiness is key. A financial institution will require you to present documentation such as balance sheets and other similar documents for your application to be considered. Simply put, the bank or lender needs assurance that you will be able to repay the loan according to the terms.
If or when your company is approved for a commercial loan, you may expect to pay a rate of interest that is aligned with the prime lending rate during which the loan is issued. Banks will generally require monthly financial statements from your company throughout the course of the loan. Your company will likely be required to take out an insurance on any larger items purchased with funds from the finance provided.
Get in touch with UK’s best finance advisors for more information on Commercial Finance from the team based in Bournemouth, we can provide you with commercial finance anywhere in the UK and nationwide.
COMMERCIAL FINANCE BROKER
We are a friendly, helpful team of expert commercial finance advisors and we’d love to assist you.