Issue #5: Pounds in Play, British Business Funding's Newsletter

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23 Effective Ways to Utilise a Business Loan for Growth and Success

As a business owner, having access to reliable funding is crucial for growth and success. A business loan provides the necessary capital to expand your operations, hire new employees, invest in equipment, and much more. In this article, we will explore 23 strategic ways to effectively utilise a business loan to propel your business forward...

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What types of business Funding are available?

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There are many types of business loan. Some require the borrower to provide security (collateral) to reduce the lender’s risk, while some do not. Usually, the lump sum provided is lower and the interest rate is higher for loans where no security is provided. Common UK business loans include:

• Bank Loan: What it says on the tin. A bank lends money for business purposes.
• Secured Loan: The borrower must provide a guarantee or collateral to protect the lender.
• Unsecured Loan: No collateral required. The loan is based on the borrower’s credit score.
• Merchant Cash Advance: Short-term borrowing to cover everyday expenses. Suitable for businesses that take card payments from customers.
• Small Business Loan: Loans for businesses with less than 25 employees.
• Invoice Finance: Funds are lent against the value of the borrower’s accounts receivable.
• Start-Up Loan: Seed cash to get a new business off the ground. Government Funds?may be available for this type of loan.?
• Franchise Finance:? Loans to start a new franchise business or expand an existing one.
• VAT Loans: Funds to help businesses pay their VAT bill while they wait for customers to pay outstanding invoices.?
• Revolving Credit Facility: Much like a bank overdraft. The borrower can dip into an open credit facility as and when funds are needed. The borrowing is repaid from incoming business receipts.
• Business Credit Cards: Credit cards for business use only. Often with higher credit limits and lower interest rates than cards for private individuals.
• Asset Finance: Large loans usually used to buy plants, machinery, and commercial property.
• Vehicle Finance: Funds to buy vehicles for business use.?
• Ecommerce Finance: Funds to power online businesses.
• Working Capital Loans: Loans that pay everyday business expenses.

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Headlines within the world of business

Why a new Edinburgh fund is putting ￡100m into firms outside of London...

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100,000 British small businesses benefit from government-backed Start Up Loans...

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An overview of British Business Funding's recent proceedings

Business Loans :

Approvals Obtained :

• ￡250,000 Term Loan for a construction company
• ￡150,000?Term Loan for a creative agency

Deals Completed :

• ￡150,000 Term loan?for a creative agency
• ￡24,000 Term Loan for a catering and hospitality company

R&D Claims :

Estimates & Claims being Processed :

• ￡22,875?for an Engineering Consultancy business completing?
• ￡27,508?for a natural sciences organisation

Deals Completed :

• ￡28,433.92 for an Engineering Consultancy business
• ￡5,110?received for a recruitment technology business

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