Coping with late payments and taxesPublished on 4th April 2017
During the course of your business’s development, your focus is going to be pulled and stretched across a variety of different areas in order to ensure growth and sustainability. Combine all of this alongside other factors such as tax, staff wages, maintenance and so on, and the strain on your business’s expenses can be something to behold. Plus, to make matters worse, HMRC is cracking down hard on businesses that fail to pay their taxes on time, handing down hefty fines.
As a result, your business can easily find itself sinking into a financial bog, causing your business to miss any number of payments. However, help is at hand. Rangewell is here, offering you a length of rope to pull you out of your financial woes. With our services and expertise in a number of sectors, we can source the perfect finance solution suit your business’s needs, including Refinance, Asset Refinance, Merchant Cash Advance, Invoice Finance, Business Loans and so on.
Refinance: A very useful option for many businesses who may be struggling with their current outgoings. Here, you can consolidate any existing finance packages you currently have into one single manageable finance solution. This is great news as it could help you acquire a smaller monthly repayment scheme along with more desirable terms.
Asset Refinance: Or, if you need access to quick cash, you could instead use your business assets to gain a capital injection. Dependant upon the value of your business’s assets, after depreciation, you could secure a lump sum that’ll help you cope better with any upcoming bills and repayments. This will grant temporary ownership of any concerned assets to a lender, but you’ll still be able to use the assets regardless. Once the package has been repaid, you’ll regain ownership.
Merchant Cash Advance: Before we begin, in order to be eligible, your business must be able to support card and digital transactions. When applying, lenders will ask to review 2 or more of your latest sales reports, granting them a clearer picture of your business’s revenue stream. Should a lender agree to offer your business finance, you’ll a receive a lump that’ll support and carry your business through turbulent times. Once your sales begin to pick up, or a pre-agreed length of time has passed, you’ll commence with making monthly repayments.
Invoice Finance: If your business needs urgent access to cash, this finance solution can be a major help. This solution works by unlocking any cash sealed away in your business’s unpaid invoices. Your business may have offered a variety of goods and services, but until your customers pay, it’s money straight out of your wallet. With invoice finance, you can receive a lump sum in the region of 90% of a particular invoice’s total value, helping support your business whilst you await payment.
Business Loans: With a loan, your business can receive a lump sum ranging from between £5,000 up to £1,000,000. Applicable in any number of ways, this finance package can also be used to offer a handy cash injection, ensuring you’ve got instant access to funds precisely when you need it most. Typically offered as secured or unsecured and as short or long-term solutions, they can be fully customised to suit your business needs.
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At Rangewell, our services are clear and transparent. We support a wide range of SME businesses of every shape and size, for finding every type of finance. Follow us on Twitter and LinkedIn for business tips and tricks, and feel free to call us on 0203 637 2340 if you’d like to chat about what we can do for you.
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