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Growing a Business

Finance is part and parcel of most business growth. Unless you are in the very fortunate position of having a wealthy benefactor or shareholder then the need to access finance is almost a given. Finance is a positive thing when it comes to growing a business. The right business loan can send you from 0-100 in an extremely short time frame.

Business Loans for Growth

For a small business the need for a business loan can vary from:

• Jumping on a new opportunity
• Purchasing equipment or machinery
• Taking on a new contract
• Recruitment
• Marketing
• Diversification
• Moving Premises

If this sounds like your situation then let’s see if we can help you. Give us a call on 01604 434343 to discuss. Alternatively, your welcome to apply online here with no commitment.

 

Business Loans for Non-homeowners

There is still a stigma in the main stream banking world about non-homeowners. I’m sure if you’ve applied for funding in the past you undoubtably will have been asked, “Are you a home owner?”. There are of course very valid reasons behind this question, and you’ll be pleased to know that the answer is not as onerous as you may think.

Why Do Lenders Like Homeowners?

Traditional banks and finance houses require security, be it from a charge on property to a strong personal guarantee. In addition to this, being a homeowner gives the prospective lender a good idea about how you manage your personal finances. What’s more is that being a homeowner means that significant checks have already been carried out against your name by your mortgage provider for you to become a homeowner so the probability of being accepted is higher.

Most lenders require a personal guarantee but not for the reasons you may think. Their intention behind a Personal Guarantee is not usually so they can take your home as security. A personal guarantee gives the lender comfort that you are willing to back your own business and of course being a homeowner simply ad’s strength to your guarantee.

However, finance for non-homeowners is becoming a slightly more common offering from the alternative business loan market. Expect to pay slightly higher interest rates and probably over a shorter term, but if you have realistic expectations from the outset the chances of getting a positive outcome are high.

If this sounds like your situation then let’s see if we can help you. Give us a call on 01604 434343 to discuss. Alternatively, your welcome to apply online here with no commitment.

 

Business Debt Consolidation

A good deal of businesses get into trouble when they take on debt and then feel the pinch. Maybe the debt is short term and the high monthly payments are strangling your cash flow. Maybe the debt was taken at a time when business was good but now you’ve lost that important contract and need to rain things in a little bit.

By consolidating your debt over a longer term or at a cheaper interest rate can mean that your cash flow burdens are eased. You could also be left with some funds to use as working capital.

If this sounds like your situation then let’s see if we can help you. Give us a call on 01604 434343 to discuss. Alternatively, your welcome to apply online here with no commitment.

Asset Finance

Also Known As: Equipment Finance, Equipment Leasing

Asset finance is a broad term, covering a number of ways of raising money on your company’s assets or to acquire new assets without paying full price up front.

Most companies will want to use one or another form of asset finance regularly, especially in periods of growth.

Finance Lease

A finance lease provides many of the benefits of full ownership. The new asset is purchased by us and rented to you over an agreed period. You pay a small initial fee and a fixed monthly rental we’ll have agreed with you based on your cash flow needs.

At the end of the lease, the asset returns to us, but you receive a portion of the resale value. This is especially useful for any equipment which is regularly replaced by an upgraded model.

Hire Purchase

Hire purchase, also known as a lease purchase, is a way to spread the purchase cost of your new asset over a longer period. Repayments are monthly and of fixed value.

When you come to Century Business Finance for your hire purchase we offer flexibility in initial deposit, fixed payment value, and the final lump sum – allowing you to tailor your agreement to your circumstances.

Sale and Lease Back

In this style of asset finance, ownership of an existing, older asset is transferred to us in return for an agreed cash value. You can continue to use the asset, so you free up some cash when you need it in return for a monthly fee.

This is an ideal way to monitor the cost of buying, financing, and disposing of depreciating assets.

 

Business Loans for Bad Credit 

If you as a business owner or director have a poor credit history, then getting finance can be extremely difficult. Certainly, if you are looking at the usual routes of bank lending then the process can be highly frustrating with a positive outcome never likely to materialise.

Can I Get a Business Loan with Bad Credit?

The short answer is yes but the solution usually comes down to how willing you are to consider different funding options and products. This could range from a short-term loan to a secured loan. But the onus can be very much on you to be realistic and flexible. If you’re willing to consider all options, the outcome can usually be positive. We must also look at the severity of the bad credit. Is it a couple of late payments, defaults on other borrowing or a bankruptcy? The more severe the adverse credit, the more you are likely to pay in interest.

If this sounds like your situation then let’s see if we can help you. Give us a call on 01604 434343 to discuss. Alternatively, your welcome to apply online here with no commitment.

How do I apply?

1

Fill out our online form

2

Send us your relevant financial information and you’ll receive a decision in 24 hours

3

You accept the offer

4

Funds clear the next day

The Benefits of a Century Business Loan Include:

  • Low Rates
  • Loans between £25k and £500k
  • Fixed monthly payments make budgeting simple
  • Simple, easy to understand documentation
  • No fees up front. No exit fees
  • No early settlement penalties. Pay back early, pay less
  • Repayment terms between 6 months and 5 years
  • Loans can be used for any purpose
  • Decision in under 24 hours
  • Funds clear to your account next day