Frequently Asked Questions

Click Case Studies below to see the companies that have already benefited from the help of Grow Funding

Frequently Asked Questions

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

What paperwork do I need to get a business loan?

For Grow Funding to place you with a business loan we simply need the following information:

2 years full filed accounts
3 months of business bank statements - showing transactions
a list of any other business borrowings
your personal registered address / home owner Yes or No

Once we have these details along with how much you want to borrow over what term, we get to work free of charge to purpose you a loan option. Simply read the loan proposal and if you are happy with the rates and repayment amounts, the money will be transferred within 7 days.

Email scanned copies directly to julian@growfunding.co.uk

Send copies to: Grow Funding Ltd - 27a Goring Road, Goring by Sea, West Sussex, BN12 4AR

Contact: 01903 660091

If my bank said "no" to a business loan will Grow Funding?

We have many clients that have been declined a business loan. Here at Grow Funding we use independent lenders and peer-to-peer funding platforms which means 95% of our applications are successful with a loan pay-out within seven working days. The best part is your application is completely free!

Are business loan rates more expensive using Grow Funding?

Grow Funding provides business loans with the independent funding market and peer-to-peer platforms the rates are very competitive. In general, the independent funding rates can appear higher than that of a high street bank. The administration charges and service charges within the loan for the initial setup are usually cheaper using independent funding than that of a high street bank. Also, the independent lending market and peer-to-peer platforms have less criteria for loan acceptance and are usually assessed on an individual basis. These loans are usually offer more flexibility and faster to obtain.

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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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