Successfully Funding Thousands Of UK Limited Companies Since 1989
Require Immediate Support? Helpline 0800 056 0410
You can get access to finance very quickly these days, particularly if you choose alternative forms of funding such as invoice finance or asset finance. The times when traditional bank loans were one of only a few finance options are gone, which has opened up more opportunity for businesses to grow.
Using commercial finance broker services also helps to quickly find the most appropriate form of funding for your needs. It speeds up the application process so you can benefit from fast access to regular cash injections or a cash lump sum.
Financing that doesn’t rely on your credit score or your providing security can be fast to access. These are just a few options that may be suitable for your business if it’s looking for fast funding.
Invoice finance
You can release cash from your unpaid invoices using factoring or invoice discounting. A quick application process and inbuilt flexibility make invoice finance an attractive funding option if you run a strong sales ledger.
The financier releases a percentage of each eligible invoice – usually around 90 per cent within 24-48 hours – giving you a constant stream of working capital with which to fund operations or business growth.
Unsecured loans
Unsecured loans can be fast to access as they’re unhindered by collateral, and particularly beneficial if your business doesn’t own assets of value. A relatively simple application process involves lenders looking at your trading history and personal credit record if you’re a sole trader.
As a company director, the lender will assess your business’s creditworthiness before making their decision. You can use the funds for any business purpose, such as buying more stock, taking on new staff, or expanding your product range.
Merchant cash advances
If you take substantial numbers of debit and credit card transactions in your business, merchant cash advances could provide the fast funding you need. The level of finance available to you depends on a calculation of your predicted sales based on sale history.
A key benefit of this type of funding is that your business repays the lender at a fixed percentage of future card sales. This doesn’t jeopardise financial stability as if card sales are lower than anticipated in some months, you pay the same proportion regardless.
Tax and VAT loans
If you’re struggling to pay your corporation tax or VAT liabilities you can quickly obtain the funding you need by applying for a tax loan. These are typically short-term loans lasting from three months to 18 months.
Repayments are fixed so you know exactly how much you’ll be paying and as they’re usually unsecured, they offer fast access and help you avoid potential penalties and interest charges from HMRC.
Get in touch with our team at UK Business Finance to find out more about how quickly you can fund your business. You pay no fee for our services and we can help you with your application if necessary.
We work across a wide range of sectors throughout the UK, providing specialist advice to each sector.
What are my options if I need business finance urgently?
Regardless of how closely you monitor your company’s cash flow, the nature of business means you may still need finance urgently at some point.
What is equity finance?
Equity finance is a business funding option that involves selling shares in return for investment. It’s commonly used by start-ups or early-stage company directors wishing to get their businesses off the ground and propelled towards rapid growth.
Hard asset finance v Soft asset finance
Hard asset finance and soft asset finance both offer flexible ways to purchase business assets. Whether you need a new piece of machinery to increase output or state of the art IT equipment, these types of asset finance options are invaluable in buying them affordably.
Regulated v Unregulated bridging loans – what’s the difference?
Bridging loans are finance facilities that help consumers and businesses to complete property transactions when a financial ‘gap’ needs to be bridged. Examples include a consumer purchasing a new home to live in and a business investing in commercial property.