Finding the perfect finance solution for your business20th January 2017
It used to be that if you were looking for business finance, the first place you’d turn to would be your traditional high street bank. However, with branch closures all across the UK at an all-time high and more and more SMEs being denied finance, business owners are choosing to look elsewhere.
If you’re seeking finance for your business but got the cold shoulder from your bank, there’s no need to despair. Alternative finance is stepping in and presenting business owners with an extensive range of finance products to suit their needs – products they likely wouldn’t have known existed otherwise.
When applying for finance, being open from the start about your business’s financial situation can endear you in the eyes of lenders. However, just because you’re choosing to use an alternative finance lender doesn’t mean checks are any less stringent. Lenders will still ask to view your credit score, history of all company directors, sales reports and so on.
This can all seem very intimidating but is an essential part of the lending process. Lenders are always seeking to reduce the risk they accept by ensuring that your business can afford the monthly repayments. It’s vital for lenders to understand the ins and outs of your business in order to determine the suitability of certain products. After all, there’s no point in offering you a product that’s too expensive and can seriously damage the future prospects and sustainability of your business.
To call the alternative finance industry big is an understatement. It’s massive!
There are thousands upon thousands of finance products available for your business and this number is constantly growing by the day. However, with so much choice, it can be difficult to know which way to turn. But before you jump into the first deal that catches your attention, see what else is on offer.
By simply looking around and seeing what other lenders have to offer you could be pleasantly surprised and secure a great deal with a highly desirable interest rate. However, comparing the vast sea of finance solutions can be an intimidating and frustrating endeavour. This is why we, at Rangewell, are offering our services and providing much-needed support in this pursuit. With a strong reputation and access to over 23,000 finance products from more than 300 associated lenders, many business owners value our services when seeking finance.
Our values are simple – We’re on your side.
At Rangewell, 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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