Seeking business loans can often be a frustrating process for directors. With traditional lenders, seeking business loans can often be a tick box exercise with the lender providing a ‘computer says no’ approach. Even at the best of times it can be a daunting task confiding in the bank with woes or ambitions when you are in need of quick business loans, often feeling like your words are falling on deaf ears.
The ‘computer says no’ approach to business loans
The individuals that you may be discussing your proposals with can often be inexperienced in complex matters and obliged to follow a set of guidelines when considering applications for commercial loans. As a result, and despite having a viable business, you may not satisfy the criteria and therefore not be granted the support you require from a business loan.
And let’s not forget the online providers of business loans whom many struggle to get past the second screen due to the turnover being too low or the company’s credentials not being satisfactory.
These restrictions on lending in terms of both arranged business loans and overdraft facilities have made cash flow management a critical factor for the survival of businesses. In many scenarios, just a few days of a negative cash flow and a fully utilised overdraft can mean the difference between a company’s employees being paid or not.
Cashsolv’s ‘individual circumstance’ approach to business loans
Securing payment from slow paying creditors may not always be the cause of a cash flow crisis and short term funding from business loans may be required to overcome an unforeseen cash flow barrier. At Cashsolv we have developed a viable alternative to ‘tick box lending’, as trained professionals we seek to understand our clients businesses and assess their true position before producing a business finance solution.
Unlike most finance providers, we do not have a blanket approach to business loans. We believe in doing what is best for the business and the individuals involved. Sometimes short term funding may not always be the answer and we may be able to provide a better solution which the directors may not have previously considered.
We understand that each scenario is unique, which is why we allow a variety of security options to support our business loans. To date these have included:-
- Single invoice advances
- Charges over tangible assets/equipment
- Charge on commercial premises
- Debenture over the company
- Cross company guarantees
- Receipt of agreed HMRC refund
- Personal guarantees
- Charges over personal property
At Cashsolv we have a history of working with directors under pressure and we understand the time constraints and quick decisions that are required. If a business loan is required we can often reach a decision with 24 hours of being contacted with the funds following shortly thereafter.
If a loan is required we will try to work with you to find a bespoke solution. If you believe you could benefit from the ‘can do’ attitude of the CashSolv team then please do not hesitate to contact us.
For further information Download our Guidance Paper on 'How short term business loans can help your business finance problems', or view the following relevant pages:
- Business loans
- A guide to Short term business loans
- Emergency business loans
- Emergency business loan - why not use a bank
- A guide to Small Business Loans
- How quick business loans can encourage business turnaround
- How to get a quick business loan
- The pros and cons of secured business loans
- How to make business finance work for you
- A case study: How we helped a recruitment firm invest for growth
- A case study: Quick business loans could be the answer
- Business loan calculator