Financing

[Mdonnelly14]

What’s the best route for business expansion financing in these current covid weird times ?

Bank? (Really rather avoid)
Crowdfunding sort of thing ?

£250-£300k

[rog007]

Assuming that your expansion plan has been stress tested and is viable, then money could come from the usual sources (family/friends, bank, angels, P2P etc).

Depending upon what it is you’re going to use the money for (people/stock/premises/marketing/takeover etc) may point to some preferred options linked to the amount of risk in your plan.

[Mdonnelly14]

rog007 said:

Assuming that your expansion plan has been stress tested and is viable, then money could come from the usual sources (family/friends, bank, angels, P2P etc).

Depending upon what it is you’re going to use the money for (people/stock/premises/marketing/takeover etc) may point to some preferred options linked to the amount of risk in your plan.

Where would be best for P2P ?

[foliedouce]

It depends on so many variables, but here's some ideas:-

CID facility - do you have invoices you can factor? Gives you an immediate flexible credit line

Lend the money from your SIPP (lots of criteria to do this, but it is possible)

Crowdfunding is a no unless you are prepared to be a lead investor / know some lead investors - you need to raise 75-95% yourself for a successful raise

CBILS loan - bloody cheap and no PG, but would involve your bank

I'd recommend https://www.thefsegroup.com/ for funding - they are very flexible for business expansion loans as they are a CIC. PG required for a % of the loan, but not the full amount.

Good luck