Best Business Loan Lenders for Up to £500,000+ in the UK
The business loan lenders think it is wrong for business owners to be held back by lack of funding for their businesses. Having with small business owners, the business loan lenders knew that there are better ways to predict a company’s growth and success than a computer-says-no algorithm. The business loan lenders believe that by taking some time to listen and understand what businesses are about.
They can provide financing tailored to suit all types of businesses, and the business loan lenders will choose to lend to many of the businesses. Fleximize is a tech-focused but relationship-driven with a lightning-fast process from initial loan application to receiving your funds, plus a dedicated point of contact for you every step of the way. The business loan lenders are innovating the United Kingdom’s finance by introducing the UK’s first revenue-based finance product.
Entrepreneurs will receive an immediate capital lift in exchange for a small portion of future revenue at a fixed cost. No equity, just a percentage of their takings until their loan is repaid, allowing their business to grow organically. Fleximize is striving to provide best-in-class service, flexibility and choice across all of our services.
All the business loan lenders loan options offer truly flexible features that will continue to support business growth for as long as the business requires. Fleximize offers top-ups and repayment holidays, and there is absolutely no penalty for early repayment. In fact, if you repay early you will only ever pay interest for the time you had the business loan.
Types of loans from the business loan lenders
There are different forms of business loans available for small and medium-sized enterprises in the UK, the abundance of small business funding available from alternative finance providers and traditional high-street banks mean there should be a business loan out there that suits your business needs perfectly.
Thorough preparation is the key to success since the business loan lenders are meticulous in assessing applications, often basing their decision on borrowers’ professionalism, planning, honesty and ability to communicate clearly.
Before you get to this stage, however, it’s worth taking a look at the range of loans available to small businesses, which should help you pinpoint the best funding solution for your business.
Secured and unsecured business loans
The traditional business loans are usually split into two types: unsecured business loans, which don’t require security and tend to have higher interest rates, and secured business loans, which are typically higher-value loans more suited to growing businesses.
Business owner decision could be influenced by the legal status of their company if you are looking for a partnership company loan, or you a sole trader or limited company, the age and track record of your company could also influence your choice. However, flexible business loan lenders will look at the bigger picture when assessing your application, so be ready to share the required information.
The business loan lenders are the first provider in the UK of revenue-based financing, which is revolutionizing small and medium-sized enterprises finance. Differing from traditional lending, borrowers only have to repay a percentage of sales each month until their loan is repaid.
So, essentially, loan borrowers only pay what they can afford, meaning it’s great for companies that are affected by seasonality, with peaks and dips in sales throughout the year. This relatively simple, accessible and affordable type of loan is ideal for people looking for startup, partnership and limited company loans.
Business growth loans
A number of business loan lenders offer funding solutions that are specifically geared towards business growth. These loans can be used for various purposes, including recruitment, property purchase or renovation work. Fleximize is one of the companies offering this type of growth funding, which it tailors to the individual needs of every business.
With such a diverse array of small and medium-sized enterprises emerging, alternative finance like peer-to-peer (P2P) lending has gained momentum among business owners looking for non-traditional loans. Based on the concept of crowdfunding, small businesses seek funding from multiple investors via P2P platforms such as Funding Circle and Zopa. It is straightforward and low risk.
Government business loans
The Department for Business, Energy and Industrial Strategy (previously the Department for Business, Innovation and Skills) provides a number of loans for UK small and medium-sized enterprises. And with various programmes lending money at a national, regional and local level for startups and growing businesses, this avenue is certainly worth pursuing.
This sort of lending enables small and medium-sized enterprises to release money based on outstanding invoices before they’ve been paid by customers. A third party lends money against unpaid invoices this is typically between 80% and 85% of the total value.
Capital is released from funds locked in business owners’ pension plans. The pension-led funding approach also enables businesses to leverage the value of their intellectual property (IP). Based on an independent valuation, the IP can be purchased or leased by the pension fund, or used as security for a loan from the pension fund to the business.
Purchasing rather than renting a commercial property may be a good option for your business, especially if you plan to make changes to the building or plan to operate from that base for the long term.
Commercial mortgages can be approved for up to 80% of the value of the property on a term of up to 25 years. The business loan lenders can even include the option to pay interest only, at least for a set period of the loan. As with a standard business loan, research the different rates and options online.
Specialist business loans
Many lenders offer loans to suit businesses in certain industries, or to cover the purchase of equipment or vehicles, for instance. The benefit of opting for a specialist loan is that you can be very specific about the purpose of the funding, and therefore the precise amount that you require. In fact, being able to outline a fixed need, cost and lending period can help your application, as it may be perceived as less risky.
Retail platforms like eBay, Amazon and PayPal have spawned a surge in e-commerce businesses, with many small retailers generating a comfortable income online. eBay loans (also known as e-commerce loans) are typically available through a quick, easy application process from alternative finance providers. Ideal for boosting cash flow, buying stock or investing in marketing, this kind of loan can help cushion the impact of unavoidable expenses.
Loans for young entrepreneurs
Record numbers of young entrepreneurs are starting businesses, with many turning their passion into their livelihood. But with young people being at the very start of their business careers, they’re unlikely to qualify for large loans due to their short track record. The Prince’s Trust, together with the government-backed Start Up Loans Company, offers startup loans for young entrepreneurs aged between 18 and 30.
Fleximize provides quick-turnaround flexible funding to UK business owners who are looking to borrow between £5,000 and £500,000. The business loan lenders can fund larger loans up to and above £5,000,000 through their sister company Alterium Capital. If you would like to find out more about the business loans before applying, feel free to contact the loan company.
3 easy steps to get loan from the business loan lenders
You can apply online: Take a few minutes to apply and receive a decision in principle within 24 hours
Speak to a relationship manager: Your dedicated relationship manager will take you through a bespoke proposal customized to meet your needs
Receive funding: After signing your financing agreement, your funding will be sent within hours.
Fleximize takes great pride in empowering small businesses to accelerate their growth by providing financial support and impartial business advice. Like the banks of old, the small business loan lenders believe in really getting to know their customers, and they love to hear about how their support has catapulted their customer’s businesses into the next step of their journey.
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