Commercial finance is a lending solution that has been developed for any type of commercial business. Also known as business funding or business finance, it is a loan that can be made available through different finance facilities.
A commercial loan will provide a business with a boost in cashflow that will enable the purchase of business assets, employ more staff, fund a new contract, business expansion and much more. As with any loan type, the process is relatively straightforward, a factfind is completed, deals are sourced, a loan amount is agreed, a repayment period is calculated, and the finance cost is finalised.
Two of the most popular elements of commercial finance are known as asset finance and invoice finance. Asset finance allows a business to purchase the assets it needs to effectively run on a day-to-day basis and/or to fulfil business expansion plans. Invoice finance (also known as factoring) unlocks cash, which is tied up in unpaid invoices, giving the business immediate access to funds.
Here at NGI we are certainly seeing the demand increase for a range of commercial finance deals. Recently, we have assisted with several asset finance deals which have been used for the refit and refurbishment of offices, retails outlets and hospitality venues. Another very popular solution is finance for purchasing a new business. Our recent Case Study regarding the purchase of the Staines-Upon-Thames branch of Martin & Co is a typical example of how we can assist, securing £150k of funding for the applicants.
We have also seen a rise in invoice finance demands where catering companies are having to take on additional staff, haulage companies are in need of more drivers, telecoms companies need more advisers and flooring specialists are needed with the refurb of office spaces.
To find out more how commercial finance can be utilised to fulfil your business finance needs please call us on 01993 706403 or e-mail firstname.lastname@example.org.