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Debt Consolidation - Why Covid-19 Business Interruption Loan Scheme (CBILS) can help!

Fri, 16 Oct 2020 12:38:59 GMT

Debt Consolidation with Grow Funding

People have been consolidating personal and business debt for many years, but now companies can use the CBILS for debt consolidation.

When the UK Government introduced the Bounce Back Loan (BBL) to support businesses throughout the UK, many businesses used this as a cash injection facility. However, with the financial support being offered by the Government in the form of CBILS (now extended the end of November), UK businesses are rethinking the way they use this financial support.

One of the uses of CBILS is to consolidate debts (businesses cannot have both a CBILS and a BBL and must pay back the BBL with the CBILS). Debt consolidation is when multiple debts are settled to form one overall loan. Multiple debts could be made up of credit cards, existing loans, asset finance facilities or other loan types.

In past cases, many lenders loaning funds would have asked for a personal guarantee (PG) to secure their money or investment. The security would have been high value items or assets, such as property. If you have applied for a CBILS loans over £250k you may already know that in some cases a personal guarantee is still required, however, the difference is, the CBILS option will not accept a personal main residence as security. This can be a big advantage if you have taken out past debt and you have used your personal residence to secure that debt. Now, by re-financing and consolidating the loan that risk on your property would be removed.

The other benefits of consolidating outstanding debt includes better terms and lower rates, saving you money overall, particularly on short-term loans.

Many of our clients return to us at Grow Funding because of our professional expert knowledge. We act on your behalf as a broker. Grow Funding have strong professional relationships with personalised account managers throughout the independent lending marketing. You can rely on our knowledge and experience to get the right business finance solution for your business. We offer free advice to all UK businesses. Contact Grow Funding today on T: 01903 660091

E: expert@growfunding.co.uk

W: www.growfunding.co.uk

#Business #money #CBILS #BBL #Grow #Funding

The government backed Coronavirus Business Interruption Loan Scheme (CBILS) is coming to an end this month

Fri, 04 Sep 2020 19:09:47 GMT

So what financial support is available for the future?

The government backed Coronavirus Business Interruption Loan Scheme (CBILS) is coming to an end this month - but don’t worry, as if your CBILS application has been approved by the end of this September, the lenders still have to the end of November to pay out. However there remains much speculation from business owners about whether we are on an upward turn to the financial support needed. Business owners are communicating concerns about the financial support for the future. The UK government have stepped in by paying the interest and the lenders deferring the capital repayments for the first 12 months on all CBILS loans, but after that the businesses are expected to make these interest payments as well as the loan repayments. However, there are growing concerns that businesses are still finding it slow to recover from the coronavirus outbreak. If businesses have not recovered and need to make their loan repayments and interest charges from their CBILS arrangements, they will have to find cashflow from other sources. This could prove difficult, as lenders have already tightened up criteria to approve applications.

Lenders including high street banks will usually lend to businesses with increasing turnover and proven growth and, of course, when lenders are looking to loan money to businesses, they must consider the risk factor around that. Having existing debt will lower the chances of additional borrowing and only if a business has assets that can support the risk. So maybe in the future we will see an increase in asset finance, or maybe even an increase on second charge security against property.

This does leave a very big question unanswered; many business owners do not own a property and therefore if their company is not asset rich how do they support themselves through these difficult times?

It is true since the launch of the Coronavirus Business Interruption Loan Scheme on the 23rd March 2020 the British Business Bank have reported to have approved 1,236,369 businesses with an estimated £53.24bn being loaned. And whereas we recently speculated that some of these businesses would have taken out finance regardless of the Coronavirus outbreak, it doses lead to concerns about the amount of financial support still needed.

Sadly, we do not have the answers for these growing concerns, but here at Grow Funding, we do have strong relationships within the alternative leading market. This allows us to work on a case by case arrangement and with our expert knowledge and close relationships with the ever-changing finance market, we can overcome some decisions that could have ended in a “NO”.

Grow Funding are still proud to offer a no fee application and consultation arrangement, so seeking our help will not cost UK businesses a penny. As an award-winning broker, we only charge a fee once we have successfully achieved the financial outcome.

Feel free to contact our friendly team of expert today on T: 01903 660091 / E: expert@growfunding.co.uk

www.growfunding.co.uk

CBILS (Coronavirus Large Business Interruption Loan Scheme) can loan more to UK Businesses.

Fri, 21 Aug 2020 11:02:20 GMT

As of the 11th August 2020 the government have reported just over 1.2 million of businesses have taken advantage of the lending schemes

On the 12th August 2020, the British Business Bank have accredited another lender to provide finance (CBILS) to smaller businesses with a turnover of up to £45m. As of the 11th August 2020 the government have reported just over 1.2 million of businesses have taken advantage of the lending schemes, which is believed to total just over £51.77 billion. These schemes have been broken down through different types of loans and lending, from Bounce Back Loans, Interruption Loans, and the Coronavirus Large Business Interruption Loan Scheme.

With so much business lending over the year is it any wonder that the public are worried about the economic future here in Britain. What we should really consider is how many of these businesses would have taken out business lending and loans anyway. We know that small businesses have increased lending over the years, this partially was because of the fear of leaving the EU with Brexit, and then there are businesses that have used the Government Bounce Back Loans to repay older finance, on higher terms. With this in consideration the figure of £51.77 billion does not seem as scary.

The UK Government made a promise to increase the amount of lending if required to Innovative businesses that have new and exciting ideas that are more likely to attract venture capital investment. This initially started out with a budget of £250 million, but the need for additional funding has grown. That is why the Future fund will be increased and finish around the end of September 2020.

Just in case your business has not taken advantage of the financial support being offered there is still time to apply, as the process is very fast. Use Grow Funding the award-winning finance broker in Sussex to help you achieve the financial support you need. We take the stress out of the process and complete the application for you, so you can still focus on work.

Here is a little more detail on what is the Bounce Back Loan Scheme (BBLS)

• The BBLS is ideal for small and micro businesses

• Loans from 2k to 25% of turnover

• Maximum loan of £50k

• Loan paid out within days

• Completely backed by the UK Government, so no secure required

• Pay back over 6 years with a fixed interest rate at 2.5%

• The government pays your first year’s interest.

So how does that compare to the Coronavirus Business Interruption Loan Scheme? (CBILS)

• Ideal for businesses with a turnover up to £45k

• Loans from £50k to £5m

• The UK Government pays the first year’s interest

• The Lender-levied fees under the CBILS for 12 months

If you have any questions regarding finance for your business and you are located within the UK, give our friendly team a call here at Grow Funding, our experts are always available to help.

T: 01903 660091

E: expert@growfunding.co.uk

www.growfunding.co.uk

The CBILS loans for SME businesses are soon to come to an end!

Fri, 07 Aug 2020 15:33:23 GMT

Grow Funding the experts at business finance covering the UK and based in Sussex

The CBILS loans for SME businesses are soon to come to an end!

In still uncertain times with the Coronavirus, UK businesses are still trying to find a normal.

The UK government set in place the CBILS (Coronavirus Business Interruption Loan Scheme) to help UK businesses in need of financial support offering loans up to 250K or 25% of the business turnover. The government secures the loan and even pays the first year’s interest! But did you know, even if your business already has one CBILS loan, it may still qualify for a second.

Grow Funding have already arranged and approved £4Million in CBILS loans and have more processed and awaiting approval. It is still not to late to apply, but the deadline has been set for September. There are some talks of the CBILS being extended to the end of September, but can your business afford to take that chance? Apply today and if you are unsure call Grow Funding for free advice on Worthing 01903 660091 – Fast Business Finance when you need it.

Grow Funding have over 20 years experience working with mainstream independent lenders. So if your business has struggled to get credit or high street banks have said no, Grow Funding can help. CBILS is just one government approved lending scheme, but there are other means of support available. Independent lenders offer competitive rates and terms so don't be fooled in thinking that they are more expensive.

Grow funding are truly experts at business funding and we have worked with all industries such as, printers, construction, car show rooms, recruiters, training businesses and many more.

For a free consultation, please get in touch via email or phone on:

T: 01903 660091

E: expert@growfunding.co.uk

Grow Funding offers and supports the Covid-19 Business Interruption Loan Scheme (CBILS)

Fri, 05 Jun 2020 09:48:39 GMT

The Director (Julian Stafford) of Grow Funding is Supporting the Covid-19 Business Interruption Loan Scheme (CBILS)

Grow Funding offers and supports the Covid-19 Business Interruption Loan Scheme (CBILS)

Not all SMEs are aware that they may eligible to apply for a CBILS. Grow Funding has access to the alternative lending market that can help businesses struggling to get the support and assistance they need to navigate through these difficult times.

It is no surprise that COVID-19 has caused financial problems for businesses throughout the UK. Some have tried to hold out to see if they can cope without the need of assistance, but without having an end date to the lockdown, the time has come for many businesses to take the cashflow help now.

After talking to many of our Grow Funding clients, some have also said they have not applied because they didn’t know how to arrange it.

Therefore, not only do Grow Funding have access to CBILS, they have the experts to walk you through the process.

Here are some benefits of CBILS to SMEs:

• No capital or interest repayment for the first 12 months

• Facilities up to £250,000 and up to 60 months

• No arrangement fees

• Available to home and non-homeowners

• Can settle loan after 12 months with no penalties

To find out what financial support is available for your business get in touch for a free consultation with one of the Grow Funding experts.

www.growfunding.co.uk

expert@growfunding.co.uk

T: 01903 660091

The Business Financial Brokers for West Sussex, A proud member of the Financial Conduct Authority.

Business Financial Support to UK Business Owners

Wed, 01 Apr 2020 11:10:01 GMT

Grow Funding is here to help you in these uncertain times!

Since the Covid 19 virus hit the UK, all businesses small, medium and large have been impacted. The uncertainty of these times makes business owners feel uneasy. The UK Government have not given clear answers to the self-employed and the help that is offering to sectors such as retail, beauty, DIY and restaurants have not been given a timeline to how long the help is on offer! If times were not hard before they certainly are now. We know these are unsettling times and we want to make the process of applying for business finance easier. When business owners are under this much stress, thinking about processes can be difficult. If you are considering a business loan to get you through these difficult times, please get in touch with us, here at Grow Funding, and we will take the stress of these processes away.

We are an experienced team, helping clients in difficult situations, and even if you do not meet the Governments criteria for their business interruption scheme loans, we can offer different financial solutions.

For your free business finance advice give us a call today. Our friendly team are awaiting your call.

T: 01903 660091

E: expert@growfunding.co.uk

www.growfunding.co.uk

#business #money #loans #finance #grow #funding #worthing

Covid-19 Business Interruption Lending Scheme

Tue, 31 Mar 2020 12:49:39 GMT

How to Apply for your business loan

As you know, the Government’s Covid-19 Business Interruption Lending Scheme is now live and one of our independent partners is an accredited lender, and as such we can use the scheme to make loans available to businesses such as yourselves impacted by Covid-19.

Please find the details of these loans outlined below:

Business Loan - highlights:

• Up to £250k max loan
• No repayments for first 12 months
• No Interest paid in the first 12 month, paid by the Government
• Loan terms 1-5 years
• No Personal Guarantee required
• Non homeowner can apply for up to £50k and up to £250k for homeowners
• Only for LTD businesses
• Existing customer of FC customer can take a loan to max of £250k including their existing loan

The high-level eligibility criteria:

Be UK-based in its business activity, with annual turnover of no more than £45m
Have a borrowing proposal which, were it not for the current pandemic, would be considered viable by the lender, and for which the lender believes the provision of finance will enable the business to trade out of any short-to-medium term difficulty
The following trades and organisations are not eligible to apply: Banks, Building Societies, Insurers and Reinsurers (but not insurance brokers); The public sector including state funded primary and secondary schools; Employer, professional, religious or political membership organisation or trade unions

As you know, the Government is covering a client’s interest repayments for the first year as part of the CBILS scheme. As such, the client will be required to pay the monthly principal repayment in year 1, and from year 2 onwards the repayments will increase to include interest and principal.

Application requirements

Application form completed as attached (please include all directors/majority shareholders)
Documents required:
6 months recent business bank statements (on pdf)
Last two years statutory filed accounts
Recent MI/Management accounts
Any other supporting information

It is useful to include any additional information that may aid the underwriters when they are assessing the application. For example, detail surrounding the impact caused by Covid-19, detail on use of funds, explanation for any anomalies or anything that you feel is relevant to the application that isn’t included within the standard questions.

https://www.growfunding.co.uk/Covid/19ApplicationForm

www.growfunding.co.uk

T: 01903 660091

E: expert@growfunding.co.uk

43 Major Retailers Closed in 2019, Protect Your Business...

Mon, 10 Feb 2020 13:41:57 GMT

Business funding and cash flow have been at the forefront of all major retails in the UK.

43 major retailers closed in 2019, protect your business

Business funding and cash flow have been at the forefront of all major retails in the UK. Let’s look at 2019… it is sad to report that 43 major retails closed their doors to the public and in total 46,506 jobs were affected. This is a consistent number as we also saw another 43 big retailers close their doors in 2018 along with 44 the year before.

It is true to say that retail is struggling! We ask a question, could these companies have done more? And could they have been more reactive?

Businesses can make changes and with the UK’s government supporting more SME’s then before it is true that the UK wants to see high street shops and businesses still exist.

Each year the independent financial market is growing with more funding solutions being offered.

But still when we talk to business owners, we find there is a knowledge gap of these products. We have also found that there are more financial solutions for B2B customers than B2C.

Here at Grow funding we specialise in finance for all business sectors. We hope in time with more marketing, presentations and exposure that the funding solutions available to SME businesses will become more widely known.

The benefits of the independent finance market are here to help with cash flow and to support UK businesses move with the ever-changing economy and habits of consumers. But to do this business owners need to become more active in their business plans.

Which brings us back to the two questions originally asked:

Could these companies have done more? And could they have been more reactive?

Being reactive can bring many benefits to a business. Planning properly can grow businesses but also make them more cost efficient. We hear from many business owners that they have goals and plans for the feature but hold them off because they do not have the cash flow (Business finance) or because they simply do not have the time or the skills. What if they used a finance facility to plug that gap, invested in the skills needed and raised the funding they need through the many independent finance solutions offered, where would that businesses be then.

Commercial cash flow can help businesses improve by having the latest technology to keep up with demand! Attract more customers with marketing campaigns and advertising but also by growing their skilled work force. It’s important for any business to take time out and review and put together business strategies, our advice to business owners holding back because of a lack of funding is don’t. Look at what you stand to gain if you invest and then weigh up your options. Business finance is available to almost any business that needs to move forward especially businesses in the UK that have been trading for more then 3 years and can show they are making some form of profit. Struggling businesses still stand a chance of support and that is where the help of our experts here at Grow Funding can help.

We are proud to offer a free friendly advice service to any UK business looking for commercial finance. We specialise in all the comprehensive solutions from invoice finance, business loans, merchant cash advance and much more. As a business owner we do not expect you to know what all these funding solutions mean, that is why Grow Funding does.

Let’s change the figures for 2020 and be more reactive to business, lets invest the money, create and review more business plans.

www.growfunding.co.uk

01903 660091

Stats used in this blog where taken from https://www.retailresearch.org/whos-gone-bust-retail.html

Company Tax Bill Due? Finance it! with Grow Funding

Thu, 09 Jan 2020 11:39:55 GMT

It has come to that time of year when company tax bills are due! But let’s be honest most companies would prefer to take that money and invest it back into growing their business.

Company TAX bill due?

Finance it! and free up cash flow.

It has come to that time of year when company tax bills are due! But let’s be honest most companies would prefer to take that money and invest it back into growing their business. When I talk about growing, I don’t mean grow as in getting bigger, although it could mean this. I mean grow as in, increasing turnover or ordering different stock lines. Whatever grow means to your business available cash flow is always needed. That is why there are many financial products around to support businesses and if your business has a trading history, the options get even bigger. We understand at Grow Funding that all businesses have good and bad times. It could be the type of business and sector that dictates this, or simply a change in the economical climate.

Whatever is happening in your business, companies are always looking to support themselves for the unexpected changes that the unpredictable future holds. More and more companies are looking to commercial finance to support the dip in cash flow or lose of turnover. However other companies use business funding to take on more work to support the commercial framework.

If your business is looking for a commercial business loan, asset finance or even a supply chain facility Grow Funding can help. We help all UK businesses even businesses with a bad credit history.

The commercial finance world can be a difficult one to understand, which regular changes in products and criteria, so let us be the specialist in that, so we can use our knowledge to help your business. We offer long- and short-term solutions.

Don’t lose sleep worrying about that Tax bill around the corner, contact us at Grow Funding to put a suitable finance solution in place.

We offer a free advice service, so go ahead and contact us on 01903 660091

Expert@growfunding.co.uk

Get your free advice on: 01903 660091

www.growfunding.co.uk

FCA regulated.

#grow #funding & #tax #Problems 01903 660091

www.growfunding.co.uk

Get your free advice on: 01903 660091

www.growfunding.co.uk

FCA regulated.

#grow #funding & #tax #Problems 01903 660091

www.growfunding.co.uk

Business Financial Resolutions for SME Owners 2020

Fri, 13 Dec 2019 13:06:31 GMT

With Christmas fast approaching and the new year around the corner, now is the time to start thinking about the changes or goals you want to make to your business next year!

Business financial resolutions for SME owners 2020

With Christmas fast approaching and new years around the corner, now is the time to start thinking about the changes or goals you want to make next year!

Did you know? that most SME businesses fail because they do not properly manage incomings and outgoings, but the steps to safeguard your cashflow can be simple.

Our mission at Grow Funding is to support all UK businesses with financial support and advice.

Here are some of the small steps you can make in the new year to help protect your business, and not become one of the failing businesses that did not think ahead.

In today’s modern world technology is critical, more and more advertising has taken place to make SME business owners aware of technology and apps that can help manage cashflow, such as: Free Agent, QuickBooks and Xero. If you have not got the software needed to manage your cash flow now might be the time to start implementing it.

Why not start forecasting your cashflow for the next 6 to 12 months. Allow time in your diary to analyse sales tends or project contracts and work out how much cashflow will be needed. If you notice a gap in cashflow, start thinking ahead of time by applying for a business loan , invoice finance or supply chain finance.

Use the start of the new year to renegotiate and remind clients and suppliers of your payment and credit terms. Supply chain finance is the perfect solution to get better terms from your suppliers, find out more using this link…

https://www.growfunding.co.uk/supply-chain-finance

Financial rewards you and your company many have not known about…

There are several tax reliefs available to existing and new starts up businesses. Many of these tax reliefs get overlooked because they are not known about.

Our UK government encourage economic growth and as part of this they reward companies that initiate Research and Development. Your company could be due money either as a cash payment or a lower corporation tax bill.

Even if your business is turning over less than £85K you could opt to be VAT registered and pay a flat rate percentage on your years gross turnover. The best way to monitor this is to do a tax return every quarter.

If uniform is criterial for your companies branding or protects your staff whilst at work, you could be due a tax deduction. So, this year why not think about your company branding and imagine and ask yourself this, do you need new uniform?

At Grow Funding we know running a business requires a great deal of time and dedication and sometimes taking time out to reflect is sometimes less of a priority. We have found that business owners that have taken time to analyse and protect their cashflow have improved their businesses.

Grow Funding is an independent financial broker and offers free advice to all UK businesses. If the information in this article has raised some questions please get in touch on 01903 660091 or expert@growfunding.co.uk where we can answer them. Grow Funding works closely with accountants and FCA regulated Independent lenders, so if your business could benefit from using a new accountant or commercial funding please contact us directly.

www.growfunding.co.uk

T: 01903 660091

E: expert@growfunding.co.uk

Challenger Banks! - Grow Funding explains

Fri, 15 Nov 2019 12:41:37 GMT

What is a challenger bank?
Why is a challenger bank different?

Challenger Banks!

What is a challenger bank?

Why is a challenger bank different?

Have you heard of the term the “Big Four” banks? - well if you haven’t then you will certainly know them, they are the four biggest high street banks, (Barclays, HSBC, Lloyd's Banking Group and Royal Bank of Scotland Group). A challenger bank is a smaller bank that has been recently- created, we use the term recently because they simply do not date back as long as the “Big Four”.

Did you know that Barclays was created in 1690 and was named Barclays in 1736?!

Challenger banks are a retail banks that trades in the United Kingdom and compete directly with the “Big Four”. Challenger Banks distinguish themselves from historic banks by having modern financial technology, practices and on-line operations, this helps avoid complexities of traditional banking.

As you will know, you cannot just call yourself a bank because you choose to! There are criteria that need to be complied with. The word bank is defined by many factors a few are: being authorised to accept retail deposits by the financial regulators (PRA) Prudential Regulations Authority.

Did you know according to Wikipedia Metro Bank received their license in 2010, it was the first one to have been issued by the UK government in 100 years, this is because setting up a new bank, with a full UK banking licence is extremely expensive and time consuming?!

With the financial crisis in 2008, it was decided that the market needed to be up to alternative lenders and challenger banks could apply, and that the “Big Four” could not be allowed to dominate the market. This also become part of the Financial Service Act 2012.

Here at Grow Funding, we have close communications and understand the lenders criteria to lending we also present your application in line with their guidelines.

To apply for a business loan or any other lending need please contact us and take advantage of our free consultation service.

Here is a number of Challenger banks and each one offers there lending based on different requirements and terms.

Challenger Banks/Established in:

Aldermore - 2009

Atom Bank - 2016

Metro Bank - 2010

N26 - 2016

OakNorth- 2015

Shawbrook Bank- 2011

Starling Bank - 2014

Tandem Bank- 2015

Tesco Bank- 1997

Virgin Money- 1995

For a free consultation Grow Funding are here to help, we specialise in all commercial finance needs including business loans, asset and Invoice finance. We help businesses all over the UK.

www.growfunding.co.uk

T: 01903 660091

Reference for facts contained in this blog were researched on the following link:

https://en.wikipedia.org/wiki/Challenger_bank

Need Money For Your Vat Bill?

Thu, 31 Oct 2019 15:20:17 GMT

An easy way to pay your business Vat bill...

Struggling to pay your Business Vat?

Get on-going finance support from Grow Funding to pay your outstanding Vat bill.

As a business owner you are responsible for submitting and paying your Vat on time to HMRC, however this can be an unwelcome bill as cashflow is needed to cover other business costs. We can help spread your Vat over 3 months to help ease cash flow.

• Short term Vat funding up to £150,000, spread over 3 months. You can then have new loan each Vat quarter.

• In addition to Vat we can also help you spread the cost of your Corporation Tax

• All our short-term funding is tailored to your business needs and we offer a free consultation to get to know your requirements

• Hassle free applications, we take care of all the paperwork and application process, so you can focus of your business

To find out more contact us today T: 01903 660091 or expert@growfunding.co.uk where a member of our team will be happy to provide you with all the support you need.

www.growfunding.co.uk

Know who you are doing business with! avoid a business loan scam.

Thu, 17 Oct 2019 12:37:11 GMT

Stay Safe with Grow Funding

Know who you are doing business with! avoid a business loan scam.

When you apply for a business loan or business finance, you will have to supply a lot of personal information about your business that is why it is critical you know who you are doing business with so you do not get scammed. There are several things you should be aware of and this blog will provide you with that information. Here are 6 warning signs

1, Requested Upfront Fees

2, Promised a loan

3, Lenders or brokers with no website or email

4, Non-traditional Advertising

5, Uninvited contact

6, High Pressure Sales Tactics

Requested Upfront Fees

Lenders and brokers are there to provide you with a service, a broker is a professional in matching you with a lender and achieving the best loan terms and rates, along with managing your paperwork and application process. Brokers make their money by charging a fee, however depending on the case, it is usually normal to pay your broker once a loan offer has been made and accepted. In some cases, banks will charge an upfront application fee and lenders may ask for a fee to complete a credit check. These are usually considered to be small amounts of money, so do not be worried if these are requested! It can be a normal request. Your finance broker will know which lenders and banks usually require these fees, so go ahead and ask them the question. Also, we only recommend dealing with lenders and banks that have a lend history, again your broker will advise you on what lenders offer the best customer care.

Promised a loan

A broker or a bank will not be able to guarantee you or your business a loan over one call. A lot of information is considered when applying for a loan and credit checks are usually always required. So, if you are promised a loan without certain consideration to turnover, credit score and trading history, the lender may not be who they say they are! There are companies out there that want your company’s information just to sell onto third party companies. Companies with a low credit scores or bad credit ratings are usually the scammers preferred targeted choice. Don’t worry with Grow Funding, we complete business loans on a day to day basis for UK companies with low credit scores needing financial help and we DO NOT sell/ or / give your data to any other companies.

Lenders or brokers with no website or email

With many different platforms to advertise businesses on these days, like Facebook, Instagram, Google Business ads, you could think you are doing business with a real company and not a scammer. However, if there is no business website, landline number or business email address this could flag up a problem. Ideally a website should tell you the services they offer, other client reviews and their contact and business address. The advice here at Grow Funding is to also check that they are on the FCA register (Financial Conduct Authority) website and that their business is registered on Companies House. Both these links are provided at the bottom of this blog.

Non-traditional Advertising

If you do see an advert for a lender or broker on social media and other platforms make sure that there is a link to their website. Do not assume that because they are advertising on Facebook and other social sites that their company really exists, remember use the links below for the FCA and Companies House to know if they are register. Grow Funding is proud to be register with both and we are always happy to provide you with our customer testimonials, with their consent to show how authentic we are.

Uninvited contact

With the independent lending market getting more and more competitive cold calling is becoming more and more common. If you receive a call, ask where they found out about your business? Do not give over any company or personal information over this call. Take their company details and the name of the person calling and do your checks first. Also, when they called you, did they consider the latest GDPR rules and considered your data privacy on the TSP? Most of customers at Grow Funding hear about us through their accountants, but others come direct. Have a chat with your accountant if you are unsure who to use to get a business loan or other commercial finance solution. Alternatively, you can contact our friendly team at Grow Funding direct 01903 660091

High Pressure Sales Tactics

Scammers will not want you to think about the loan or contact them later! Especially if their company is fake! borrowing money is a big choice and making fast decisions is not always advised. Make sure the company you are doing business with, gives you that time to reflect and consider your options. Grow Funding offer a free advice consultation at anytime without any pressure. So, feel at ease by giving us a call about any commercial finance question/s 01903 660091

https://register.fca.org.uk/

https://www.gov.uk/get-information-about-a-company

https://www.growfunding.co.uk/

Grow Funding – 27a Goring Road – Goring by Sea – Worthing – BN12 4AR (01903 660091)

Last Years Trading Statistics on Import - Export

Tue, 10 Sep 2019 09:37:51 GMT

Importing was higher in 2018!

After reading through the House of Commons statistics briefing paper on the UK and EU trade 2018 by Matthew Ward, I discovered several fascinating facts.

Even though this report was generated in 2018, last year, it still had several interesting facts about how the UK breaks down its trade in imports and exports.

One thing from this report was very clear, in 2018 the UK exported less than the amount imported. To give you an idea of how much that is in monetary value including both goods and services, the amount exported came to 289 billion whereas the amount imported was 345 billion. In a statistical divide 46% total UK export and 54% total UK import.

So, I wonder if a similar pattern will occur in 2019? and with Brexit approaching what could this mean for our UK Businesses?

According to Josh Hardie the deputy director at CBI (Confederation of British industry) he stated recently in an interview, that UK businesses have prepared themselves for the no ideal Brexits, but they are no way protected! The answer we are all looking for is how do we protect the businesses?

The HMRC UK Trade information showed that in 2018 the UK’s top 3 goods export were made up of the following:

Petroleum, petroleum products 12% (20.6 billion)

Road vehicles 10.1% (17.3 billion)

medical and pharmaceutical products 6.3% (10.09 billion)

However, let’s reverse that and have a look at what the top three for imports were to the UK, statistics are as followed:

Road vehicles 17.4% (46.5 billion)

medical and pharmaceutical products 6.7% (17.7 billion)

Electrical machinery and appliances 4.3% (11.4 billion)

So, if we were to compare that to services how does it compare? let’s take a moment to have a look at the services that the UK exports to the EU. statistics used for this were based in 2017

the top three they can be identified and was followed:

financial 23.6.% (25.9 billion)

travel 17.4% (19.1 billion)

telecommunications, computer and information services 8.3% (9.1 billion)

however, the majority that was exported was classed as other business services which made up 28.2% totalling 31 billion.

So, let's compare that to the UK services imported from the UK in 2017 the top three were listed as:

Travel 42.8% (35 billion)

Transportation 14.1% (11.6 billion)

telecommunication computers and information services 7.8% (6.4 billion)

and other business services made up 18.9% which totalled 15.4 billion

These statistics and reports give us the guideline and insight to how the UK trading sectors are broken down and may be an insight to how those areas or sectors may be impacted with the future changes imposed by a no deal Brexit. Being in the financial sector it was fascinating to discover that in 2017 the UK exported 23.6% of its financial services and only relied on 6.4% of being imported.

Here in the UK the financial services are always trying to support UK SME businesses. And with the independent lending market becoming more competitive, more SME businesses are obtaining investment. Grow funding are an independent finance broker and we work very closely with the independent lending market to help all UK businesses in any sector.

Please use the link below which will take you to the full briefing paper issued by the House of Commons and is referenced in this article.

Statistics on UK-EU trade - Parliament UK

https://researchbriefings.files.parliament.uk › CBP-7851 › CBP-7851

Business Loans & The UK Brexit Uncertainty

Tue, 27 Aug 2019 14:27:02 GMT

Change can be a scary thing for anyone at any time!

Business Loans & The UK Brexit uncertainty

Business loans are continuing to increase in the UK with the funding being used to improve business cash flow and to provide UK business growth. Now that there is a deadline to action the UK’s Brexit, UK Businesses are once again starting to look at their financial future and think about their sustainable revenue.

Change can be a scary thing for anyone at any time! Why? because change brings the unknown and with that it follows with unpredictability. However, businesses can turn this ‘unknown’ into an opportunity. Many UK businesses are using business loans and invoice finance solutions to inject cash into new opportunities, here at Grow Funding we have witnessed this on many levels. Just a few examples in the past few months have shown expansion of businesses, using a business loan to franchise their business. Also using cash flow to purchase additional stock to take on more business contacts.

With business loans growing in the UK, so is the number of lenders. 10 Years ago, UK businesses wouldn’t have seen the number of lenders that are around today. But still most UK businesses are unaware of these lenders and how to contact them. Some lenders can be contact directly and some cannot, the lenders that cannot be contacted directly choose to have clients referred through accountants, business finance brokers and insolvency practitioners. The advantage of going through a referral system is that the accountant, broker or practitioner will know their lenders well and select the best lender for the client. It matters that the client and lenders are matched well for many reasons, not only to get the best rates and to get an acceptance of a loan, but also so the client dose not have loads of failed credit searches. But there are more benefits to using a broker such as they way the loan is packaged up and delivered to the lender.

Lenders that spend a significant amount on advertising are usually the lenders that allow direct applications, however there are still big benefits applying through a broker please read the follow article ( https://www.growfunding.co.uk/why-should-i-use-a-commercial-finance-broker )

Our UK Government are still really focused on supporting UK businesses, one of the ways they are doing this is with their ‘Business Support Helpline’ offering support on many topics such as employing people, money and tax, running a business and self-employment. The government also support the ‘start up loans company’ a subsidiary of the British Business Bank and offers loans up to £25.000 to start ups. They will also support with advice and mentoring.

For free advice on business finance and solutions please contact us here at Grow Funding, we are always happy to offer free advice.

T:01903 660091

Email diane@growfunding.co.uk

Businesses around the country are missing out on opportunities due to lack of available funds!

Tue, 13 Aug 2019 11:11:24 GMT

The worst region effected was London

Business Money.com reported in August 2019 that SME businesses around the country are missing out on business opportunities due to lack of available funds!

The worst region effected was London, where statistics show that the average annual missed opportunity is valued at of £135.791, this was taken from latest Aldermore Future Study.

The Future Study surveyed over a thousand business decision-makers across the UK.

The main impact on the lack of funding poses problems to SME businesses focusing on growth. 37% of SMEs target growth as their top objective, whereas 24% are prioritising develop and expanding their offerings.

More interestingly 25% of business owners are apprehensive about innovation, stating that Cashflow is their biggest concern. 12% worry about keeping up with new technology and 15% are anxious about retaining and upskilling staff.

Read more about this on the following link…

http://www.business-money.com/announcements/lack-of-available-funding-holds-back-a-fifth-of-uk-smes

Grow Funding is an independent Business Finance broker. Offering financial solutions to all UK Businesses. We work with independent lenders that use their own credit criteria. In 9 out of 10 cases we can provide a fast solution, to stop missed business opportunities. We offer a free consultation and we are FCA regulated.

Don’t delay, no matter what the money is needed for call our friendly team today

01903 660091

www.growfunding.co.uk

Tips to improve your business online :-)

Tue, 30 Jul 2019 20:22:31 GMT

Marketing your business online does not have to be expensive!

Tips to improve your business online!

Marketing your business online does not have to be expensive, in fact most online marketing does not require any budget at all.

Here at Grow Funding we frequently work with UK businesses, many of these companies come to us to increase their cash flow to extend their marketing strategies.

The first thing you should know about improving your online business is your website should be updated with relevant content on a regular basis. This doesn't have to be pages and pages of complicated writing; short pieces of text that engage your audience is a good start.

The other thing that can improve your business online is verifying your business with Google. This is simple, you just need to setup your business with a Google business page. Thereafter you can update contents to your business page which enables Google to help promote your business.

Of course, many people are using social media such as Twitter and Facebook to send out their marketing messages. You can also use the Facebook advertising features to boost your audience awareness. This does require a budget; however, the budgets do not have to be excessive.

Google also owns ‘YouTube’ and therefore Google favour any ‘YouTube’ videos that you post. When uploading your ‘YouTube’ video you will have the option to enter a description with keywords. This helps Google and its SEO (search engine optimisation) to promote your business.

If you are feeling a little bit more technical, don't forget the setup Google analytics to understand how your website is performing and to see where people are looking on your website. This will enable you to improve your content on your website and identify which pages of your website people are find interesting.

If your company targets b2b, then you may benefit from websites such as lead feeder which enable you to see which companies have looked at your website.

We hope you found this article useful and if you require any additional information please contact us at Grow Funding.

Grow Funding are proud to help UK businesses with a free consultation on how to improve your business finance. We help raise cash flow for your business as well as funding machinery and assets.

For a full list of our solutions please use the following link provided:

Loans

https://www.growfunding.co.uk/commercial-loans---info

Asset Lending

https://www.growfunding.co.uk/asset-based-lending---info

Invoice Finance

https://www.growfunding.co.uk/invoice-finance-info

www.growfunding.co.uk

01903 660091

Mergers and acquisitions involving UK companies - Why business finance helps!

Tue, 23 Jul 2019 12:58:15 GMT

Commercial Finance supports UK Mergers and acquisitions

The office of national statistics (ONS) issues a report every quarter on the Mergers and acquisitions involving UK companies. A merger and acquisition (M&A) are when one company takes control of another company. This is defined when one company gains more than 50% of the original shares or voting rights. The merger and acquisition can be UK-based, or it can be an acquisition with another international company. An outward acquisition and merger transaction are when a UK-based company gains control of another company from overseas.

The office of National statistics will only report on deals that have legally been completed, where each transaction has a value of at least 1 million, and transactions that results in change of ultimate control of the targeted company.

· The estimates for the value and numbers of mergers and acquisitions (M&A) involving UK companies in Quarter 1 (Jan to Mar) 2019 saw notable decreases when compared with activity in Quarter 4 (Oct to Dec) 2018 and Quarter 1 (Jan to Mar) 2018.”

· The value of inward M&A (foreign companies abroad acquiring UK companies) was £6.3 billion in Quarter 1 2019, a sizeable decrease on the value recorded in Quarter 4 2018 (£38.8 billion).

· Outward M&A (UK companies acquiring foreign companies abroad) was valued at £5.4 billion in Quarter 1 2019, a notable fall of £5.1 billion when compared with the value of £10.5 billion during Quarter 4 2018.

· The value of domestic M&A (UK companies acquiring other UK companies) in Quarter 1 2019 was £1.4 billion, a £4.2 billion decrease on the value recorded in Quarter 4 2018 (£5.6 billion).

If you are thinking of a merger and acquisition and require support with commercial finance. Please contact us at Grow Funding (FCA regulated) to support you. 01903 660091

Business loans, asset finance and invoice factoring are a few ways of supporting UK businesses raise cash-flow.

Read more on reported M&A values using the Office of national statistics link below:

https://www.ons.gov.uk/businessindustryandtrade/changestobusiness/mergersandacquisitions/bulletins/mergersandacquisitionsinvolvingukcompanies/januarytomarch2019

The new Peer to Peer lending regulations!

Fri, 12 Jul 2019 13:24:00 GMT

The FCA, financial conduct authority has recently announced the new regulations for peer-to-peer lending. So, what does this mean to you?

In 2014, the peer-to-peer lending industry started its journey into being regulated by the FCA. In 2016 the ‘post implementation’ review was set to be accessed. The review was put in place to see how the regulations were working in an involving financial sector. The two major changes include:

· The regulations state new rules around what information must be provided to investors

· tighter requirements around governance and risk management

The regulations show great benefit to investors as now there is more transparency in their investments. With more transparency any future investments will be made on a more informed decision.

From the 9th December 2018, when the legislation was implemented the FCA decided to protect new investors by asking them to undertake a ‘appropriateness’ test, so that investors understand the risk’s involved using a peer-to-peer lending platform. This was also followed by any new investors being capped on how much they could lend in their first year.

Here at Grow Funding we offer free impartial advice and are FCA compliant. Please refer to our FCA blog for more information about the financial conduct authority. If you can benefit from any free advice and are a UK business please do not hesitate to contact us on 01903 660091

#UKFinance #GrowingBusiness

W: www.growfunding.co.uk

Have you heard about the Bank Referral Scheme?

Fri, 28 Jun 2019 11:05:03 GMT

The Small Business, Enterprise and Employment Act 2015 created the UK government bank referral scheme.

Have you heard about the Bank Referral Scheme?

The Small Business, Enterprise and Employment Act 2015 created the UK government bank referral scheme. The scheme was launched in November 2016 so that the government could track businesses and their requests for business finance. The purpose of the bank referral scheme was to support SME businesses that had been turned down finance by their bank. The bank would ask permission from the SME business to pass their details onto an alternative business funding scheme. Sadly, in March 2017 the Sunday Times reported less than 24 percent of businesses were referred. According to a report by Genesis Initiative , in 2018 50% of small business owners did not look elsewhere than traditional lenders.

Without the financial investment it means that SME businesses are unable to grow and survive.

So, why are UK businesses not looking at the alternative funding market?

One could argue that UK businesses are not looking at the alternative funding market because there could be a lack of trust, knowledge or awareness. Over the last year significant investment has been placed by alternative lenders to increase the awareness through additional marketing. However, there is a consensus that some businesses think that alternative lenders have higher rates than their banks. In some cases, it has proven that the alternative lending market can be competitive and that the rates are based on the level of lending risk.

With awareness improving and trust growing for the alternative lending market additional benefit are also starting to shine through such as:

· quick loan applications, which are made easier

· funding available within 24-hours

· bad credit rating can be overcome

· bespoke lending with more flexibility for any purpose

At Grow Funding we are an impartial finance broker with expert knowledge of the alternative finance market. Before applying for finance, we offer a free consultation to advise you on which independent lender could suit your business and offering you the best rates. Feel free to get in touch on 01903 660091

FCA - New Business Plan

Fri, 24 May 2019 11:16:15 GMT

Business plan reviewed after uncertain Brexit

The Financial Conduct Authority is the regulatory authority for the UK financial services. The FCA Chief Executive Andrew Bailey reveals the future business plan for the commencing year. With Brexit still being uncertain the FCA has had to rethink their future business plan and allow for the uncertain changes. Andrew explains that much of the pervious work has yet to be completed and remains a focus. Protecting consumers will always be the goal and with that, there are many projects to consider, such as continuing the FCA work on high cost credit, and loyalty penalties for consumers that do not shop around. The FCAs future approach would like to include work around regulation and tightening up a more formal duty of care with financial providers, a great deal of research has already been conducted around this and a high level of feedback has been received.

Listen to the 20-minute Podcast of the FCA Chief Executive (Andrew Bailey) and Head of Business and consumer communications (Emma Stranack) discussing the recently released Business plan.

Click here to listen to the FCA new business plan discussion

Click here to view the FCA PDF report

Grow Funding are proud to be FCA approved and we support the new business plan. Consumers should be protected and that is why we offer a FREE advise service to all UK Businesses. If you think you need a business loan or a cash flow facility, we recommend seeking advice first.

Always make sure they are approved by the FCA!

www.growfunding.co.uk

01903 660091

https://www.fca.org.uk/media/podcast/inside-fca-podcast-andrew-bailey-business-plan-and-future-regulation

Sourced from the FCA website 24/05/2019 - https://www.fca.org.uk/media

Business Rescue Financier of the Year!

Fri, 17 May 2019 11:21:58 GMT

Insolvency & rescue awards

Insolvency & rescue awards were pleased to have Julian Stafford the owner and director of commercial finances services, now re-branded as Grow Funding attend their event as finalist in the category of Business Rescue Financier of the Year.

Julian Has 20 experience in supporting UK businesses with financial help and solutions. Starting his career with RBS in London, he soon realised that there were more options for businesses using the independent financial market. Over the years peer to peer, crowdfunding and invoice finance solutions have grown, and more and more businesses go from strength to strength with in-creased cash flow.

Julian is well known in the financial industry for his level of knowledge and professionalism, Julian offers a free consultancy conversation to all UK businesses. Often businesses are misguided in the financial service that would work for their business, Julian has extensive experience matching the right solution and lender.

The team here at Grow Funding want to congratulate Julian on the awards he has won and for the support he offers us.

www.growfunding.co.uk

01903 660091

Commercial Broker (NACFB Magazine) May 2019

Fri, 17 May 2019 09:09:55 GMT

The National Association of Commercial Finance Brokers - May 2019

Issuu.com updates there website regularly with publications about the UK’s financial market. At Grow Funding we think sharing the financial news is important. In this month’s edition of the Commercial Broker (NACFB Magazine) May 2019 we see articles on Barclays Bank supporting SME business through Brexit with a £14bn lending fund, and Funding Circle providing greater support to its introducer network in the North and Scotland. Financial Brokers have a big part to play in the UK, supporting SME businesses understanding how the independent lending platforms work. It is a true skill understanding each criterion different lenders will accept and the individual finance solutions each lender offers. Business owners have enough to focus on with the day to day running of their business and that is why business finance brokers exist. Grow Funding not only understands each lender and their financial solutions, we also understand the importance of making the application process as quick and pain free as possible.

CLICK HERE TO VIEW MAGAZINE

So, if it’s a business loan, re-finance or an invoice finance facility your considering contact Grow Funding for your FREE advice, contacting us could save you a lot of time and money. Enjoy flicking through the commercial broker Magazine and reading the articles on Funding Circle, Barclays, assessing the FCA Motor finance review and many more…

https://issuu.com/nacfb/docs/6883_-_nacfb_-_magazine_issue_5_-_m

Issuu.com 17/05/2019

Invoice Finance Really Helps UK Businesses!

Fri, 10 May 2019 12:59:14 GMT

It's Just choosing one of three options.

Invoice finance explained

Invoice finance is a fantastic facility to enable you to release cash tied up in unpaid invoices. As you know outstanding invoices can range from 30 day to 90-day payment terms and having to wait to receive your money can cause a lack of cash flow. That is why there is a facility available to raise the cash flow you need when you have completed the job or service. This means you will not need to be stress when your customers have delayed payments, as when the invoice has been issued you can receive the money usually within 24 hours.

You could also request a confidential invoice facility which means your customers do not have to know you have a facility in place.

There are 3 different types of invoice finance facilities, and not everybody is aware with these.

· Invoice Factoring

· Invoice Discounting

· Selective Invoice Finance

Invoice factoring explained

Invoice factoring is perfect for small businesses that need regular cash flow, you can raise funds against your outstanding invoices at the point in which you raise the invoice. The factoring company will manage all the collections and their reporting systems enable you to keep up to date on client’s payment history. They will have direct contact with your customers, which can really help your business as it saves you time chasing payments and allows you more time to focus on growing your company.

The benefits of using invoice factoring means your money will be advanced to you without having to wait for your customer to pay. Typically, you will be advanced a percentage of the invoice up to 90% and then you receive the outstanding amount minus any fees once the invoice has been paid by your customer.

Some key things to consider when choosing your invoice factoring provider is not only how much their rates are but the service in which they offer. The service that they offer is of course important as they will be having contact with your customers and therefore you are looking to have the best possible service. Here at Grow Funding we have knowledge of all the different providers and service levels they offer, please contact us and we can provide you with our independent insight on the lenders that might be right for you.

Invoice discounting explained

This facility is ideal for more established businesses with accounting systems in place and an existing credit control team. You fund the sales ledger as a whole and report the monthly movements back to the finance provider at the end of each month. You are responsible for your own credit control, and because of this, this facility is usually the most popular for larger businesses. Like invoice Factoring you will be advanced a percentage of the invoice up to 90% and then you receive the outstanding amount minus any fees once the invoice has been paid by your customer. The difference being that the advance is against the sale ledger as a whole, rather than individual invoices. The standard Invoice Discounting service is a disclosed facility to your clients; however, you can request subject to credit a Confidential Invoice Discounting facility. This will mean your clients will be unaware you are using invoice finance. To understand more about how the different facilities, work and establish which works best for you, please contact us at Grow Funding.

Selective invoice finance explained

Unlike invoice factoring and invoice discounting, selective invoice finance is more straightforward and simpler to arrange. With this facility you can pick and choose the invoices you wish to raise funds against. There are often no contracts and the amount of money that you can withdraw straight away could be as much as 100%, this will be based on the credit worthiness of the company that you are doing business with.

Once you have appointed a lender you have full control over which invoices you wish to fund. You can also decide how often you want to issue an invoice for your cash advance. The rates will be based on the invoice amount and the level of risk based on the company in which you are doing business with. Certain elements will be looked at such is their length of time in business and their average turnover.

Big Bank or Independent Lender?

Thu, 14 Mar 2019 21:19:08 GMT

The difference...

Where to get a business loan

Business loans are not just available from BIG branded high street banks, there are many lenders within the UK on an independent lending platform. People often ask me what are the benefits and differences between them both?

When it comes to money people are very reluctant to go anywhere else other than big branded banks, because they are familiar with them, "understandably it's your money and you want to know who you are dealing with".

That is the reason I have written this Blog, to educate people on their options.

Differences between Banks and Independent Lenders

Yes, it is true, high street banks usually offer better rates of interest, but they can also add additional charges. I have found the strict criteria needed to process the loans are usually harder to jump through. Particularly when a business has past trading problems.

High street banks have many business and retail consumers regularly depositing money allowing banks to have access to large amount of funds with very little or no interest. Whereas independent lenders source their funds in different ways.

Where Do Independent Lenders Source Funds?

There are many ways independent lenders source funds! Crowd funding options are made up of multiple individuals pledging an investment and expecting a return on that pledge, other independent lenders may have access to certain banks and financial institutes, where they have access to their own lending book, but the independent lender must pay higher rates of interest.

Why Choose an Independent Lender?

Their lending criteria is usually very forgiving and statistically I have converted more loans through the independent route than mainstream. Also, I have found independent lenders are very fast in processing applications and paying out. Also, there are no hidden charges and admin arrangements that some Big banks can keep adding.

NEWS Treasury Committee Decided To launch Inquiry Into Business Rates

Thu, 07 Feb 2019 14:51:06 GMT

The submissions deadline is 2 April 2019

Is it time to find out how business rates have affected businesses in the UK since 2017?

I think so!

Business rates are a cost for most businesses, no matter what sector you are in, you will be paying rates on retail shops, offices, Pubs and even holiday homes, of course there are many more…

The local council sends out its business rates bills in February or March each year, so it’s happening now!

That’s why understanding the relationship between business rates and business growth is important.

After looking at the parliament website, I am delighted to see the depth in which the inquiry will cover.

Here are just a few taken from www.parliament.uk Committees page 07.02.2019

The inquiry will cover some of the following

Reliefs and allowances
The ability of businesses to pay
The relationship between Business Rates and the behaviours it drives in business.
Support growth and encourage competition
The impact of Business Rates on rental prices
The impact of Business Rates on property prices
The problems associated with property-based business taxes
The impact of changes (proposed and actual) of Business Rates on Local Authorities and Councils, and the High Street

To have your say, you can submit your form to Parliament using the link provided (Submit my say):

Submit my say: remember deadline 2- April 2019 ...

Fast Business Finance with Grow Funding ltd

01903 660091

www.growfunding.co.uk

Blog reference link: Click here

Grow Funding Attending LendingCrowd Event 2019

Fri, 25 Jan 2019 13:50:10 GMT

Julian & Mark receive future funding updates

Julian and Mark are seen here in Edinburgh, Scotland at the 'LendingCrowd' yearly event.

At this event Julian and Mark receive fresh insightful information on the current and future funding solutions offered by ‘LendingCrowd’.

‘LendingCrowd’ are a peer to peer lending platform launched in 2014 and are fully FCA regulated. Peer to peer lending allows investors to lend personal capital to SME business, usually via a small business loan.

Julian and Mark work closely with businesses in need of financial support, with their experience they match the right commercial financial solution.

Check out some of our case studies with the link below, to see what And Why businesses need support…

www.growfunding.co.uk/completed-case-studies

So, if expansion, relocating or taking on more staff is on your companies’ agenda, Grow Funding are happy to help.

www.growfunding.co.uk

01903 660091

Why should I use a commercial finance broker?

Wed, 24 Oct 2018 14:52:42 GMT

Using a commercial finance broker will save you time and money!

Much like a mortgage broker a commercial finance broker knows the whole of market, we know the best rates but also make sure the acceptance criteria is aligned. Commercial finance brokers offer a similar service, they are specialists in knowing multiple lenders and their criteria. It is also the commercial finance brokers job to recommend the right product. For example, a business owner may think they need a business loan to fund their new or project/equipment, but asset finance or invoice finance might be the better solution.

A good commercial finance broker will get to know you and your business as they will need this information to use their skills to tailor the right deal and solution. The best bit about using a commercial finance broker is the time you will save. The commercial finance broker should complete all the application paperwork on your behalf, all you need to do is supply the bank statements and accounts if required. The commercial finance broker will act as your point of contact at any time and will continue to support you even after the finance is put into place.

Having an on-going relationship with your broker means, should you ever need to re-finance or need additional support they will be able to get to work faster as they already understand your business.

At Grow funding we offer free advice and offer a free application service, so you only pay after a solution has been found!

www.growfunding.co.uk

01903 660091

Business finance when businesses need us.

Rip Off Britain They Say Use FCA

Mon, 15 Oct 2018 09:59:42 GMT

Grow Funding is FCA Approved

Did you see Rip Off Britain on the BBC this morning? We are so happy the BBC is helping to educate consumers on using authorised companies that hold the UK's Financial Conduct Authority approval. Please see the photo taken today of our companies approval with the FCA.

www.growfunding.co.uk
01903 660091

Grow Funding Attends The Brighton Expo

Thu, 11 Oct 2018 11:12:29 GMT

Thank you to Funding Cycle for the on-going support.

What a great day we are having mixing with local businesses across Sussex and sharing ideas.

Business loans don't have to be complicated and can be paid out in very little time. With larger banks tightening their lending books the independent market are still happy to provide support.

We are having a fun day educating local businesses on the possibilities. Just remember large banks are not the only option.

www.growfunding.o.uk
01903 660091

Say “YES” to a Business Overdraft!

Thu, 27 Sep 2018 13:06:27 GMT

Are you aware that business overdrafts are not just provided by banks.

If you’re like me, you may be unaware that business overdrafts are not just provided by banks.

The independent funding market not only offers secured and unsecured business loans, but they also provide Business overdrafts. So, when I found this out, I asked myself how much is the interest? and how much can I borrow?

I was surprised to find out an overdraft can start at 25k and go up to 2m. The interest usually sits around 0.06% per month! That’s a 7.2% APR.

So, what are the benefits of an overdraft compared to a business loan? The first thing that stood out was that if you don’t use the overdraft, you don’t pay! In addition to that, you don’t pay arrangement fees, draw-down or renewal fees. Once the overdraft is approved based on the business’s assets, Work in process and unpaid invoices you can draw-down the money typically within 2hrs.

The lending limit is broken down into even more detail, and by calling Grow Funding on 01903 660091, they can inform you in more detail.

So, if that all sounds good the next question you might want to ask is… “How do I qualify”?

Here is some of the criteria you need to meet:

1. Are you a business registered in England & Wales?

2. Have been trading over 15mths with 1yrs filed Annual Accounts?

3. Are you trading B2B with min turnover of £250pa?

4. Are you showing a profitable, positive Balance Sheet?

5. Do you have Trade Debtors, Stock and/or Work in progress?

If you have struggled to answer YES to all of the above, you could still apply for a business loan, where the criteria is based on a case by case application.

Apply Free Today! by contacting expert@growfunding.co.uk or by calling 01903 660091

www.growfunding.co.uk

Grow Funding & Funding Circle

Wed, 05 Sep 2018 10:38:38 GMT

Why use a finance broker to obtain a Funding Circle Loan?

Why use a broker to obtain a Funding Circle Loan?

The first thing you should know when applying directly to Funding Circle is that it is all automated! What this means is,
if your business gets turned down for funding you may never find out the reason why. If you don’t know the reason,
it can not be overturned. Also, Funding Circle carries out business and personal credit checks to vet the business so make
sure you have the best chance of acceptance and don't leave a bad credit footprint. Having a financial broker act on your
behalf has many advantages and could be the difference of getting the finance you need:

1: The finance brokers will complete the application for you, not only will this save you time but will also represent your business in-line with the Funding Circle criteria.
2: All finance brokers working with Funding Circle have an account manager that they are in regular communication with. This means if there is a problem with your application the issue can be discussed and hopefully overturned.
3: The finance broker is acting on your behalf, they are obligated to advise you that you are receiving a fair financial package with regards to conditions and rates.
At Grow Funding your fast business finance brokers we go one step further and do not charge you for our advice and application process.

Who are Funding Circle

To date Funding Circle reported to of helped 39,000 established business in the UK, and approved a new business loan on average every 5 minutes according to their website dated 04.09.2018
But, who are Funding Circle? And are there other lenders like them?
Funding Circle were founded in August 2010, and they were the first in the UK to make peer to peer lending available online bring investors to small and medium-sized businesses.
According to Wikipedia Funding Circle received 2.5 million in funding from index Venture in April 2011 to help grow their lending book. Now Funding Circle operates not only in the UK but the US, Netherlands and Germany.

So How does it work?

Investors have access to a browsing platform which allows them to make an offer of funding. The funding is in a loan facility with Funding Circle setting the rate of interest. In the UK the maximum amount that can be borrowed by Funding Circle is £1 million however funding for property can be more.
Funding Circle runs credit checks on the business to enable funding to be authorised, and all criteria must be fulfilled. Funding Circle uses Experian to ascertain the strength of the company and its creditworthiness. People ask how does Funding Circle make a profit? They do this by adding a fee to approved applications.

If you have any other questions relating to this Grow Funding Blog, please get in touch by contacting us at www.growfunding.co.uk or by calling 01903 660091.

Lending to manufacturers grew by 9.2 per cent

Wed, 22 Aug 2018 12:04:27 GMT

Business Finance Update – Registered in June 2018

Reported by UK Finance: GREAT READING

Key data highlights:

Lending to manufacturers grew by 9.2 per cent in the last 12 months, in contrast to a wider 1.8 per cent contraction overall in UK business borrowing.
UK business deposits for non-financial companies grew by 2.3 per cent in the last 12 months.

Commenting on the data, Stephen Pegge, Managing Director, Commercial Finance at UK Finance said:

“Monthly net lending to businesses returned to positive in June, driven by continued growth in borrowing in the manufacturing sector.

“However the broader picture remains mixed, with ongoing economic uncertainty impacting on firms’ appetite to borrow and invest in the long term.”

Notes to Editors

..... Read more using the link below

https://www.ukfinance.org.uk/

Free Advice on Commercial Finance...

Tue, 30 Jan 2018 16:25:30 GMT

How to Get Free Business Funding Advice

In today's modern world, you may think that everything has a cost and that nothing is free.

“Well there is one thing that I can guarantee will be free”, and that's funding advice from Grow Funding UK.

Often business owners specialise in running their businesses and having to firefight with daily tasks. So, finding the time to investigate and consider financial services or products can just get forgotten about.

Many business owners think that if a high street bank turns them down for a business loan there will be no other option. However, there are so many options that people just simply don't know about.

For example, if your high street bank declines you and your business a loan, Grow Funding can apply on your behalf to the independent lending market. With the experts at Grow funding their knowledge will allow them to best place your business with the right lender and that means, like your personal credit file your business file will not be exhausted by multiple credit searches. Also, they will find out about your business and by doing so will know which lender and rates will match your business.

But loans are not the only options there are other products, one is called Invoice finance which allows you to have cash within 24 hours of raising invoices from your customers. That way you get money in advance before your customers pay you.

Please look at www.growfunding.co.uk for a list of all the services offered. Don’t forget to ring for that FREE (01903 660091) advice and that way you can get on with that busy daily task list.

Written: Diane Stafford

Date: 30.01.2018

In partnership with www.taxproblems.co.uk