More likely than not, in order to expand your business, you are going to need to access funds. There are myriad different types of finance available to help grow your business and realise its full potential.
You might want to access extra finance to increase revenue, purchase new equipment, hire more staff or expand with new premises.
Read on for examples of how different types of finance can help your business thrive.
Business growth loans are simple, easily accessible loans that can be approved relatively painlessly and quickly. These are short-term funding options that allow you to get hold of funds when you need them, whether you need new technology or capital to acquire a new contract.
If you're a business that buys and sells large quantities of stock, purchase order finance could boost your capital to allow you to purchase even larger quantities of stock at a comparatively lower price. The lender will want to see evidence of the clients you trade with before they make a decision.
Many businesses use finance to increase their turnover, thereby boosting the position of the business in the market and building confidence among clients. There are financing options for people who wish to do this. Or you may simply need working capital finance to keep your day-to-day business running smoothly. Working capital finance can allow you to grow as a business, as you will be able to purchase more stock, capital or anything you need to expand your business. Invoice finance is one way to release cash before your customer pays the invoice.
You may need to update your equipment or vehicle fleet at short notice, or to comply with new regulations,in which case you'll be looking at the range of asset finance products, such as hire purchase or leasing that much-needed equipment and move forward with your business.
At some point throughout the life of your business, you may look to commercial financing options. Whether you want to buy a new commercial property or remortgage your current one, there are ways to unlock your company's current assets and use those funds as a down payment on another property. Alternatively, you may wish to remortgage any existing properties to release capital.
Revolution Brokers are commercial finance experts and have access to a wide range of lenders.
Get in touch to see how we can help finance your business.