Peer to Peer Lending

Name: Grow Funding
Address: 27A Goring Road, Goring By Sea, West Sussex, BN12 4AR, United Kingdom
Telephone: 01903660091
Price range: Competitive
Rating: 5

The first thing to point out is Peer to Peer lending might not suit all businesses, Why? Because the interest rates can sometimes be higher than other types of business loans. However, peer to peer lending is idea for businesses that do not have security and need cash flow fast, the process usually only takes a few days and have a significantly higher success rate then mainstream banks.

How does it work?

Peer to peer loans starts with a criteria check, such as questions relating to your turnover, trading history and profits. A request for filed accounts and bank statements will be required and a summary of how you wish to invest the money. Once this process is completed, your peer to peer loan will be placed on a lending platform, where investors will have the opportunity of investing. Once the full loan target is complete you will receive the loan offer including the rates. At this stage you can choose to accept or reject. The peer to peer platform will manage the transaction and repayments from start to finish.

Grow Funding have noticed that peer to peer lending is one of the most popular alternative funding solutions. If this is an option, your business wants to explore contact us at Grow Funding to help you with the process. We can even complete the full process for you, so you can sit back and focus on other things.

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Asset finance is a type of lending that enables you to access business assets such as equipment, machinery and vehicles without having to buy them upfront. It can also allow you to release cash from the value in assets you already own or use your existing assets as security against a business loan from an asset finance lender.

Business asset finance is typically attractive to businesses who want to put their growth plans into action but don’t necessarily have the ready cash, or business owners who would rather spread large costs over a longer period.

Short-term asset finance also enables businesses to remain competitive by making it easier for them to access the latest technology. Asset finance is a broad category that relates to valuable items in your business.

Here is one of our case studies of asset-based invoice finance –

Case Study - Feb - 2019

Invoice factoring for Essex based building company

This company had been awarded a large value contract with a London borough council to install new kitchens and bathrooms into their residential council properties. With limited funds in the bank to cover the cost of labour and materials, Grow Funding arranged a suitable Invoice factoring facility to allow the business to release cash tied up in their outstanding invoices. This means going forward at the point of them giving the invoice to the council they can factor the invoice to provide them with cash in the bank to cover their cash flow needs. An initial facility size of £165,000 was set up with view to this growing over time.

The Advantages:

• Credit insurance to protect you against bad debtors

• The funds are secured and valued against your assets

• Funds can be used for any business needs

• There is the possibility of being flexible in comparison to loans and overdrafts

Mail

Grow Funding ltd - 70 Goring Road - Goring by sea- Worthing - West Sussex - BN12 4AB

01903 660091

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