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Tracy Spence
Tracy Spence
Tracy Spence's Blog

Quick Business Loans To Fund Your Company Assets

 

When you are planning to start your own business, or if established and thinking about replacing or upgrading essential company assets, you may not have sufficient capital saved to put your plans into action. This is where asset funding can help.

A quick business loan can help you keep your plans on track, either to get your business off the ground or to upgrade essential plant and machinery to the latest models to help improve productivity and win new contracts.

Quick business loans have helped thousands of up and coming entrepreneurs to get their businesses started and keep their cash-flow healthy in the early years whilst they are growing their revenue.  

Choose a loan that is right for your business

What you need to consider before taking out a business loan is whether to take a short or long-term loan. Short-term loans are usually paid back more quickly – usually within the year, but long-term loans can take anything from 3 to 5 years to pay back.

Short term loans are useful to support the purchase of new assets or inject additional funds to support cash-flow. Long term loans are better suited for businesses where a return on business activity is long term such as a business acquisition.

Fast loans can be very handy when time is of the essence such as the need to quickly acquire a new asset, in the event of a breakdown of existing equipment, or to take advantage of a short term business opportunity. Failure to find funds quickly could see an opportunity missed or an impact on productivity and the bottom line.

When applying for a quick business loan you can avoid any delays in the credit decision by ensuring the need for the loan is aligned with your business needs.

Business loans or asset funding?

Asset funding is a great alternative to traditional bank loans because the asset offers security and so the term of the funding can easily be based on the life of the asset. Additional security against other business assets won’t, therefore, be necessary.

Traditional high-street bank loans are often secured against property, stock etc which can restrict the opportunity to raise additional funds through other lenders.

How Asset Funding is different from a bank loan

What many businesses don't appreciate is that most asset based lending isn't done through traditional banks. Here at Asset Funder, our expert team of brokers have access to a range of lenders with a greater understanding of the asset so being able to offer more flexible terms at more favourable rates.

Most asset funding is managed through independent financing firms and lenders that are specialists in asset valuations and business funding. Using their experience they can often take residual risk in the asset meaning they will rely on its sale at the end of the agreement to recover some of their capital outlay. This will reduce your repayments, which will enhance cash-flow and your bottom line.

Here at Asset Funder our friendly team can provide you with fast, innovative ways to finance your company at rates and on terms more favourable than offered through high street banks.

Why not contact us today to get you on the right track to better business funding.



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