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Funding for your clients –  how you can become a funding expert

Published on 24th October 2019

SMEs - and among them your clients - form the backbone of the UK economy. From sole traders to fledgeling corporations, they cover every SIC code and range from architects to zoological consultants – but they all share the same challenge.

All SMEs have a constant problem in securing the funding they need.

It means investing in growth, in new premises, machines, vehicles and staff, can feel all but impossible. Clients may be unable to invest in stock - and even to deal with short-term cash flow issues that could be solved with a cash injection. There are many ways that your clients' businesses will suffer if they cannot access the funding they need, and in some cases, their businesses will fail altogether.

The Bank of England suggests there is a funding shortfall of around £10billion for small and medium-sized businesses across the UK. If your clients are to succeed, they need to access capital and bridge that shortfall – and they turn to you for help.

What has gone wrong for small business funding?

There are many reasons for this funding shortfall.

Part of the problem is the conservative attitude of the banks. They will still lend to small businesses – but only those businesses that meet their exacting lending criteria. A business that is already highly successful, and which has a full order book, as well as a record of profitability stretching back years, may be able to get funding from the bank. A business facing a cashflow problem, a downturn or other financial emergency is less likely to get the funding they need – even when that funding is essential to turn the business around.

It is a problem that started as a response to the financial crisis – but 10 years later, the reluctance of banks to take even calculated risks with funding decisions shows no sign of getting easier. In fact, it may be getting more stringent than ever.

The SME sector used to be able to rely on the support of a local bank manager, who would work as part of a team with a business owner's accountant and solicitor.

Sadly, your clients can no longer rely on the support of a friendly bank manager, who knows them and their business. Not only are local banks constrained by checklists, procedures and criteria laid down by head office, the traditional bank branch manager – and probably the traditional local bank branch – are becoming a thing of the past.  

Fortunately, as banks retreat from this market, alternative funding providers have grown up to help fill the gap. Some specialise in particular business sectors. Others focus on specific finance types such as Asset Funding. Still others can provide solutions when a property is involved.

Then there are also the new types of funding, such as Merchant Cash Advance or Overdraft Replacement.

So some types of business funding may have become harder to get – while many new solutions exist. There are so many types of funding that your clients can be thoroughly confused. They need professional help to understand the possibilities - and to secure the solutions that are right for them.

What can you do to help?

As an accountant, you are the SME business owner’s most trusted advisor. They turn to you for help more than they do any other advisor – and they expect you, as their accountant to have a good understanding of all the finance options available.

With so many options and alternatives available cross the lending market that can be almost impossible. Not only do you need to understand all the different types of business funding available, you need to know the lender who can offer the most competitive rates – and even how to streamline the application process when the need for cash is urgent.

It puts you and your practice in an impossible position. You may be able to help secure lending in an emergency – but you can hardly be expected to have a detailed knowledge of every player in the market, or an understanding of all the rates that are available. You certainly can’t be expected to be certain that a particular deal is the one that is ideal for your client’s needs.

Rangewell can help you become a funding expert

At Rangewell, we are specialists in business finance. We help all types of business access all types of funding.

We have the answers you and your clients seek. Loans, Asset Funding, Commercial Mortgages, or any other kind of finance - we find the most appropriate solutions while our network of contacts and our unique online tool let us find the most cost-effective rates.

We have a team made up of experts in business funding and work with all types of business finance product from lenders across the entire UK market. So when you have a client with a funding problem, you can simply call on us to help you find the solutions they need - our expertise works for you.

Are you an accountant with clients that need funding? See how we can help you give them the funding they need

Some of the solutions we can find for your clients

We can find any type of funding that your clients need, with sums of a few thousand to major finance in the millions. Some of our most popular solutions include:

Funding for premises

A serviced office, a workshop a major factory complex - a long term lease will require an upfront payment which might be provided with an Unsecured Loan from as little as 6%. We can also find Secured Loans for larger sums from 2% above base rate. For the longer term, buying premises with a Commercial Mortgage might decrease your client's monthly outgoings 

Funding for equipment

Asset Finance - Hire Purchase and Leasing - can help make virtually any type of equipment affordable by using the asset as the security for the finance. At Rangewell, we can provide funding solutions that can undercut those of equipment suppliers.

Working Capital

Working Capital Finance could help a business stay afloat and pay staff when cash flow is an issue - as it can often be for SMEs when dealing with large, slow-paying clients. Alternatively, Invoice Finance might provide an answer for cash flow issues, and by ensuring income could keep pace with the work done while an Overdraft Replacement Facility, providing instant access to cash for very short-term needs.

Are you an accountant with clients that need funding?  

We work with accountants across the country. When they identify a client with a funding need they can simply call us. We’ll work to understand the challenges and provide the solution.

Not only are our services free for you to call on, we make no charge to your clients. In fact, we are able to pass commission from lenders on to your practice. To find out more about working partnership with Rangewell to find better answers to your clients funding needs, call us at Rangewell on 020 3637 4150 - or email [email protected] Our service is free.

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Richard Mitchell

Richard Mitchell

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