Business Finance

OBTAINING FINANCE FOR YOUR BUSINESS IS SOMETIMES NECESSARY

Obtaining finance for your business is sometimes necessary and makes good sense, not for reasons such as struggling sales or cash flow problems, but for matters such as planned expansion or upgrading of your business.

Lenders are always willing to provide finance, but only if all their risk concerns are satisfied, which requires information such as a business plan as well as up-to-date profit and loss accounts. We can assist you in applying for finance by ensuring you have the necessary documentation in the form of a business plan, profit and loss, or anything else related to your business accounts that a prospective lender may require.

The milestones for obtaining a business loan

Your Business Credit Score

To maintain a healthy business credit score in any system, paying your bills on time is key.

YOUR PERSONAL CREDIT SCORE

Even after you’ve established separate financial accounts for your business, your personal credit score still matters to lenders of small business loans

KNOW HOW MUCH YOU NEED AND CAN AFFORD

As a small business owner, you need to figure you exactly how much money you need as well as how much you can afford.

BE SPECIFIC

Making your request as specific as possible helps you even more as it helps lenders assess your small business loan application.

Financial Statements

Like credit scores, financial statements say a lot about your business at a glance. Take a look at your financials from the last few years.

Bridging Loan

The need arises when a large sum of money is required within a tight timeframe and the relevant amount of cash is not available.

Requirements

You will need to show that you have the means to pay back the monies that have been loaned.

Asset Finance

Purchasing expensive machinery or other equipment that is vital to growing or maintaining your business is a challenging task, especially for SME’s with tight cash flows.

Application Referrals

Unless you have a particular lender or broker you want to apply to for finance, we do have relations with some reputable bodies specializing in various types of finance to whom we can forward an application on your behalf.

Type of of Finance:

We are not brokers, but as your accountants and with knowledge of the types of finance listed below, we can suggest which type may work for you based on your business accounts and plans.

Business Loans

Getting your first small business loan is a major milestone. But so is going through the application process! From deciding to seek financing to putting together a small business loan application,

Your Options

Before you submerge yourself in the business loan application process, make sure you understand your options. Are you sure you need financing? If so, is a term loan the best option for your industry and stage of growth?

Small business financing is accessible in a variety of ways, so it’s a good idea to grasp the benefits and drawbacks of each financial choice so you’ll know what to anticipate and where to go for the funding that’s best for your business.