It is a common mis conception that new start companies cannot get finance.
Lots of lenders look for trading history, accounts showing profit and a good balance sheet but not all.
Some finance companies look for the business principals to offer guarantees while others will look at our parts of the business to get the necessary comfort to lend.
Rates for new start companies will be higher, because the risk is higher and there is less competition for that business but there are still good deals available if you can demonstrate viability.
The right finance can transform your business, cash is essential, especially when a business is starting out. By financing the assets such as vehicles, furniture, IT, phone systems it will keep your cash free for marketing, promotion, recruitment etc.
It is essential that you present the right information in a clear and concise way, business plans must be professional, well researched and include CV’s for the principals, forecasts must be realistic and show all costs and it is always useful to have an opening balance sheet. If you have invested in the business, you would need to include where you have raised that money and where it has been spent.
We are always happy to discuss any requirement, there is no charge. If we can help we’ll let you know what we think we can do, if acceptable we’ll work with you to try and get you the finance you need to make your business a success.