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Hiring the best of the best with Alternative Finance

Published on 20th March 2017 - Last update on 22nd November 2019

As your business grows and expands, adding to your workforce may become an essential requirement. No doubt you’ve already got a dedicated team, but even with sheer determination, they can only do what’s humanly possible. As demand grows, the strain builds and members of your staff will find themselves over-encumbered. In order to continue delivering a high-quality service, hiring extra staff becomes a must.

Sometimes, you may simply need to bring in new talent. It’s possible that with your current team you’ve expanded and stretched your abilities to their limits. This is where bringing in new talent can help. With a fresh pair of eyes asserting a new set of skills and ideas, your business could continue to grow in ways you may not have considered or thought possible. However, hiring more staff does add to your working capital, increasing your business’s expenditure. Plus, advertising the vacancy can create a whole new set of costs, making attracting the right people even harder to achieve.

How to afford new hires immediately

Fortunately, there’s Rangewell. With our services and expertise, we can find you the perfect finance solution to suit your needs. So if you’re looking to hire the best of the best, we can source a vast array of finance packages to help pave the way, including Invoice Finance, Merchant Cash Advance, Unsecured Loans and much more.

Invoice Finance: If your business needs quick cash in order to acquire additional funds, this finance solution can help. Popular with recruitment agencies, it allows you secure up to 90% of a single invoice’s overall value, allowing you to source the best talent. You can begin making monthly repayments once you’ve received payment from you client or an agreed period has elapsed.  

Merchant Cash Advance: If you require more cash than your invoices can provide or you’re simply looking for an alternative method, a Merchant Cash Advance (MCA) can help. Also enabling access to quick cash, this finance solution utilises the spending power of your customers. However, in order to qualify, your business must support card and digital transactions. When applying, lenders will ask to view your latest sales reports for two or more consecutive months, granting them a clearer understanding of your revenue stream. Should a lender agree, they’ll offer you a lump sum that you can use to help advertise a job vacancy.

Unsecured Loans: Another popular method among recruitment agencies and businesses alike is the trusty unsecured business loan. With an unsecured business loan, you’re not required to set aside personal or business assets for security. Plus, with a business loan, you could borrow anything from £5,000 to £1,000,000, giving you the confidence to explore the wide range of talent waiting to be discovered.

Our values are simple – We’re on your side

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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