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The UK private security sector plays a key role in maintaining public safety in the community and at home. With police numbers having fallen in recent times the sector has expanded to cover some of the duties that were once the responsibility of public services.
To support this vital work private security firms require financing that is adaptable to their operational and strategic needs, and that protects cash flow from unpredictable changes in the market.
A combination of factors, including Brexit and Covid-19, has led to recruitment problems in the private security sector. A key issue is that some workers from Europe have not sought to renew their visas and licenses following Brexit.
Exposure to coronavirus whilst on the ‘front line’ during the pandemic has also led some security personnel to rethink their employment goals. The cost of training, licensing, and further top-up training may also be a factor.
UK Business Finance are commercial finance brokers with experience in helping the security sector in the UK. We can provide quotes for a range of funding types that are appropriate for security businesses, and our services are free of charge to our clients.
Security businesses could benefit from access to vehicle and equipment finance and refinance, for example. We undertake whole-of-market searches to find the most suitable deals.
Purchasing a vehicle outright may be out of reach financially for many businesses and is not necessarily the best way to acquire such an expensive asset. Vehicle finance using hire purchase or leasing agreements enables businesses to gain immediate use of a vehicle or fleet without such a significant outlay of capital.
Equipment finance and refinance
Equipment finance facilitates the purchase of equipment assets by spreading the cost over a fixed instalment plan – typically a hire purchase agreement or equipment lease lasting several years.
Refinancing an existing piece of equipment is another option if the asset is already wholly owned by the business. It provides a lump sum of cash and a regular fixed repayment schedule under a sale and lease back arrangement. Crucially, there is no interruption to usage for the business.
Initially, you need to obtain a variety of quotes to compare and decide on the most appropriate lender for your needs. Our team understands the security sector and can provide quotes on secured and unsecured loans, asset finance, vehicle finance, invoice finance, and commercial mortgages.
UK Business Finance are commercial finance brokers, rather than lenders. We do not charge you for our services and will write the applications to lenders on your behalf. Please get in touch with one of the team to find out more.
How we help other Sectors
We work across a wide range of sectors throughout the UK, providing specialist advice to each sector.
Can I get a business loan with bad credit?
Some lenders specialise in providing finance to businesses with a poor credit rating, which means you can get a business loan with bad credit.
How long does it take to get finance for a business?
Business loans from high street banks have been notoriously slow to access. This has left businesses in dire need of quick funding without the capability to boost cash flow or implement growth plans.
Can I lower the interest rate on my business loan?
With fluctuating interest rates and ever-increasing strain on business finances, you might be wondering if you can lower the interest rate on your business loan.
Understanding your small business finance options
Gone are the days when the high street banks were the only option for financing a small business.