Finance Blog | Commercial Lending, Essex, London | first 4 Commercial
20Dec2016

Reasons to Apply for a Non-Status Commercial Loan

If you are a business owner you might find it difficult to secure a loan via traditional methods. A short-term non-status commercial loan can be taken on board over a short period of between 12 months to 5 years and provide you with a fast answer to help you with your situation.

There are a number of situations where you might feel like you need the help of a commercial loan. The following individuals or businesses will find the assistance from a non-status commercial loan provider beneficial:

Start-Up Business Owners – There is a need for upfront investment when first starting a business. You’ll need the finances for premises, equipment and staff in order to get going.

Debt Consolidation and Short-Term Finance – As a business there will be times when the best move is to consolidate your overall debt and work towards a faster timeframe to become debt free.

Improve Business Premises – As you grow there will be a need to expand the premises or improve the equipment you use on a daily basis in order to raise standards.

Expand the Business – The next step for a business might be to open another premises or to expand the workforce to be able to cope with the demand for your product or service.

If you want to find out more about non-status commercial loans and how they can help you put together a solid plan for your business, give First4Commercial a call.

 

10Dec2016

Personal Loans to Help You Make Home Improvements

As a homeowner there are always ways in which you can improve the property you live in. Whether you are looking to add value to the house with a view to a potentially selling it, or you want to create extra space for your growing family or just want to upgrade your kitchen and install double-glazing or a loft extension, a personal loan might be the best approach to get the job done in a suitable timeframe.

Decide What Your Need the Personal Loan For – As mentioned above, there are a few reasons why you would want to upgrade your home. Work out exactly what it is you need and how much money it will take to complete the tasks to a suitable standard.

Choose the Right Tradespeople – Ask around for a few different quotes from various companies and single tradespeople as then you can work out who offers the best value for money. A good tradesperson will provide you with the home improvement you desire at a good price.

Secure Funding – Once you have the team in place to complete the specific project at hand, you can apply for a personal loan to get the job done. You should always apply for an amount that you are confident you can pay back and won’t put you in any financial difficulty.

Improving your home is important to you and your family, giving you the calm and warm space to relax in each day. Securing a personal loan to give you that peace of mind shouldn’t have to be difficult. Contact First4Commercial to see how we can help you develop your dream home.

1Dec2016

Times a Bridging Loan Can Help You

There are a few situations in life when you just need that extra bit of financial help to get you to where you need to be. A bridging loan can help those in situations that they don’t feel a way out of, allowing you to breathe a little and realise your dreams with a short-term, affordable loan.

Here are a few reasons you might be searching for some bridging finance:

Self-Employed Tax Bills – For freelancers there can often be a tax bill or other outgoing that you just don’t expect. In an ideal world there will be extra savings to draw on for this type of scenario but it isn’t always the case, and finances are needed quickly.

Fix a Damaged Property – In some cases you might not have been insured long enough to cover the cost of damage to your property and need to get the problem fixed immediately.

Help Secure an Unmortgageable Property – There may be cases where you are looking to secure funding for a property, but it isn’t in a condition where traditional lending will cover the cost. A bridging loan can help you in the short-term to get the ball rolling.

Refurbish a Property – If you’ve bought a property that needs to be gutted and refurbished a bridging loan may help you secure the funding to hire tradespeople and purchase the materials needed to complete the project.

There is never a situation where you are completely helpless; even if it seems like the financing assistance that you require is out of reach for good. Contact first4commercial and we’ll be happy to offer advice and guidance based on your personal situation.

29Nov2016

The Benefits of Bad Debt Protection

For small businesses especially, one of their biggest concerns is being able to hold customers accountable to their invoices. Not being able to secure payment on invoices could be critical in terms of financial and business growth, and bad debt protection offers a solution.

Clears New Customers – A bad debt protection service gives you the confidence to take on new customers, after we have checked them to ensure they are pre-approved as having good a good credit history. You need to be able to rely on customers paying on time, so as not to negatively affect your cashflow.

Fast Resolution on Client Insolvency – Another aspect of bad debt protection is the service that helps clears matters up when a client become insolvent. We will look after the process on your behalf, dialoguing with the insolvency practitioner and ensuring we resolve the issue and get you your money as soon as possible.

Expert Help at Every Stage – From brand new clients, to regular customers who are starting to pay later, or look like they may be at risk of suffering a financial problem, bad debt protection gives you that peace of mind with an expert at hand to offer advice and judgment.

We’re keen to help you put together a plan to protect your business in the event of customers owing you money. To find out more about our bad debt protection services call First4Commercial today and we’ll be happy to discuss the finer points and set something up on your behalf to minimise your exposure to bad debts. We are here to help.

23Nov2016

Advantages of Invoice Discounting

Invoice discounting allows companies to grow, using unpaid invoices as collateral for a loan. So you can receive a portion of the invoice upfront to assist with cashflow, and the rest when the invoice is paid in full (minus a small service charge).

No Need for Assets to Secure a Loan – In order to access the finance related to invoice discounting you are not required to own any assets. Not every business, especially a new one where cashflow is required, owns their property or other high value assets to be used as security against a loan.

Private & Confidential – You might not want your clients to know you are using their unpaid invoices against a loan. Invoice discounting is completely private, allowing you to remain in control of all credit collection with your clients.

Maintain Control – You can’t take more cash out than will be available from the invoice you are discounting, ensuring that you remain within limits that won’t harm your future financial stability.

Customise – we are always looking to help you as best we can with a wide range of financial services to help your company grow. This includes bad debt protection, business funding and asset based lending.

If you would like to find out more about invoice discounting and how First4Commercial can help your business overcome cashflow problems by utilising the unpaid invoices of clients, give us a call today. Our expert financial advisors will be happy to discuss your specific situation and help you find the right solution for you.

16Nov2016

Looking for Personal Loans as an Alternative to Credit Cards

For many people their future depends on their ability to build up a solid and respectable credit score. One that allows them to secure large personal and business loans, and one that will entitle them to feel optimistic as they apply for a mortgage to their first home, or a remortgage for their current property. Bridging loans, or smaller personal loans are looked upon as a greater way to do so, as an alternative to the use of credit cards.

Set Payments – Unlike credit cards, where payments can change month on month depending on how much you have on your card to pay off, a personal loan will have a fixed payment term. You’ll understand exactly how much to pay each month, and for how long. This is less risky than missing a payment or paying too little, as can be more likely with a credit card.

Great for A One-Off Payment – A personal loan can make the difference in not only building up your credit score in terms of paying it back, but also allows you to pay for that repair you desperately need, or for that once in a lifetime opportunity for a vacation. As long as you are aware of the payment terms and definitely need to take out the loan, a short-term loan can make the real difference in terms of your long-term credit score outlook.

If you’d like to find out more about how we can help you find the personal loan to suit your circumstances and finances, give First4Commercial a call today. We understand how to help you get to where you need to be, without putting yourself at risk of overstretching financially.

3Nov2016

How Business Overdrafts Can Help You Grow

For many businesses, cashflow can be up and down, depending on the type of industry and how often invoices are sent and payments made. There might be occasions where you require a top up of cash to ensure you can pay your bills on time, know that payment is around the corner from the client. Business overdrafts give you a borrowing facility to dip in to when you need it most. What are the advantages of taking on a business overdraft.

Flexibility – You can take money out of your business overdraft at any point that you need to, even if it is only for a limited amount of time over a period of a few days.

Cashflow Control – The major benefit of a business overdraft is that you do have the control over your cashflow at times when without extra finance you might be out of pocket and unable to make your own payments on time. Gaps in cashflow can cause serious problems to new businesses especially, so take control with a business overdraft facility.

Keep Track of Your Finances – If you don’t have an overdraft, cheque payments may bounce due to you having insufficient funds, even though you know payments in will be coming through within the next few days. An overdraft facility allows you to keep track of a good payment history.

Interest – Compared to taking out a business loan, utilising a business overdraft facility will incur fewer interest costs to you. You’ll only be charged on the number of funds you have used.

At First4Commercial we have expert financial advisors who are here to help you. Give us a call today and we’ll be happy to talk through your specific financial situation and guide you on the right path, whether to take on a business overdraft or another service that will help.

27Oct2016

Finding Investors for a Start Up Business Owner

Securing investment from business angels or other sources of investment that offer not just financial support, but business support from individual’s who have been there and done it in terms of starting a business, is important to many start up businesses in order to thrive.

Find Someone With Experience of Your Industry – Having advice and guidance from someone who has already been successful in your industry can make a big difference to your success. Not only will they have the knowledge and skills, they will also have other contacts for potential suppliers and investors.

Devise a Detailed Strategy and Pitch – Put together a strict dossier of potential costs and a thorough business plan. Once you have this information, make sure you know it off by heart and put together a pitch that is specific to the person you are talking to about investment.

Prepare for the Chase – A potential investor is unlikely to chase you once you’ve left what felt like a successful pitch. Be prepared to chase and to negotiate long and hard before securing funding, you’ll be expected to pay towards due diligence and any negotiation over intellectual property rights and business angel fees.

If you are a small business owner looking for some funding for an idea to start a company, it can be a very daunting proposition. To find out more about how First4Commercial can help you secure funding that will make a huge difference to your chances of success, please give us a call today and our experts will be happy to help.

20Oct2016

Surviving Cashflow Problems as a Small Business Owner

For small business owners one of the first things that makes them come unstuck and can damage the reputation of a company is a cashflow problem. Things can be up and down for a while, but if you have staff members and suppliers to pay it can be a difficult situation. What can you do about it?

Negotiate with Clients – For some companies you just have to stick with their policy, whether a 30-day after invoice period of payment or 60-days. Others, you might be able to negotiate and bring payment periods down if you have a good relationship.

Build Your Savings – Easier said than done, especially at the beginning, but try to put aside some money each month, even if it begins with only a small amount. It will help you get into the habit and also leave you with a buffer for when times are a little tougher than usual.

Short-Term Fix – Over time the other tips here will help build you up and negate the requirement for a short-term fix, but sometimes it is an essential part of doing business and paying the bills. A short-term loan can help cover the costs until clients have paid up, and as long as you know you can pay back you are in a good position.

Covering cashflow problems as a small business owner or freelancer is a daunting prospect at times, but if you need a short-term fix our experts are here to help at first4commercial. Give us a call today and we’ll be happy to help with honest advice and guidance.

10Oct2016

Crowdfunding for a New Business

Freelancers are full of ideas; some of them with the creative spark than can ignite a potentially thriving business. Without the funding in place some of these business ideas can just die before taking root. Crowdfunding is one potential avenue from which to secure vital funding to make your dream a reality.

Increase Your Investment Pool – With crowdfunding the investment can start with as little as £10 from a single investor, but you are not restricted in your potential to attract investment. Investors are also risking less in the process so might be more inclined to take a punt on you.

Low Fees – If you are successful with a crowdfunding project, most platforms that you can use will only charge a small fee, usually around 5% of the total raised. This gives you the chance to go all out and secure funding without worrying about what you’ll be losing financially in fees before you’ve even started.

Fast-Paced Environment – You can get the answers one way or the other quite quickly with a crowdfunding project, seeing real time answers from real people with an opinion on your business idea.

If you would like to find out more about a range of funding ideas and how bridging loans can help new businesses take hold and survive those early months please feel free to give first4commercial a call today. Our business funding experts know how to help those with a creative flare for business ideas.

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