Small business financing
represents a challenge only because there are so many sources of finace
and funding available. The skill is in working out which of these is
the best for you and for the specific situation at hand. Careful advice
and our help can put you in touch with the best sources of small
business financing available.
Small business financing
could take the form of a loan or an overdraft, and these could be from
your own bank or from an outside bank or tertiary source, even an overseas
lender. Both secured and unsecured sources of finance need to be considered,
as well as the acceptability of putting up the collateral in the eventuality
that this becomes necessary.
There are other
ways of raising funds which you may not have considered, such as factoring
or invoice discounting, where you sell invoices to a factoring company
for the value of the invoice minus a small discount. There are other
options on whether you want a credit control element to come into play
(where the factoring company itself becomes legally responsible for
collecting the money when it becomes due).