3 dos and don’ts when searching for funding

28/08/2020
3 dos and don’ts when searching for funding

Making the decision to try something new can be daunting, especially where money is concerned. But as the market evolves it’s becoming increasingly important to have an open mind.

When looking at the options available to you it’s important to know what you’re trying to achieve. Are you looking to expand? Do you want to purchase some new machinery? Or is it simply to improve cash flow? Knowing what you’re looking for will help your business secure the facility that ticks every box and provides the funding and service levels that you require.

Some funding solutions offer additional services, like credit management, which could benefit your business. Weigh them up against the potential cost savings these services could bring to your business, such as reduced internal overhead.

And when the time comes to make a decision always remember that the cheapest option isn’t necessarily the best. Assess the cost in the context of the level of service on offer, the amount of funding you can access and any additional benefits such as flexibility. After all, sometimes it’s not the cost of a service but its value that is more important.

And finally don’t worry! You’re not alone.
With a multitude of options available, lenders using potentially confusing terminology and variations on how facilities are structured and priced, the search for funding can be overwhelming to say the least. This is particularly true for small businesses who may not have the time or resources needed to search the market for the right funding facility for your business’s needs.

But help is available. Having an expert talk through your options can be a good starting point when you’re unsure which finance method will work best for your business.

An independent commercial finance broker will work with you closely to fully understand your business’s funding needs and challenges in order to identify the right facility.

A good broker knows that no two businesses are the same and each has its own unique funding requirements so they will be able to explain the benefits of each of the options available to you, allowing you to make an informed decision that will lead to the most suitable funding facility for your business.

If you’re searching for new funding for your business or you’re looking to review your existing facilities, we can help.

Contact us today on 07721 565802 or request a call back discuss the best solutions for your business’s particular needs.

Categories: Crowd Funding