Governments Small Business Loans Guarantee - Any experience?
Discussion
As we are growing at a rapid rate we are being stuffed on a cash flow position.
It is something we can deffinatly see our way out of, but in the short to mid term I am looking for other ways to raise finance.
One thing that is coming back is using the govenments Small Business Loans Guarantee could be of use to us. We certainly fall in the right band to be able to apply.
Has anyone had any experience of applying and more importantly, getting the finance they require?
Chris
It is something we can deffinatly see our way out of, but in the short to mid term I am looking for other ways to raise finance.
One thing that is coming back is using the govenments Small Business Loans Guarantee could be of use to us. We certainly fall in the right band to be able to apply.
Has anyone had any experience of applying and more importantly, getting the finance they require?
Chris
I have used SFLG in the past, I have found that they are easier to get if capital assets are being purchased rather than for straight cashflow, they can work out quite expensive with all the charges, and they force you to write a decent buiness plan (which is good)
How about factoring or invoice discounting, at a past company I part-owned we went to a small factorers who allowed us to factor on a per-customer basis, so we didn't have to factor all our business, lower interest rate than normal bank borrowing as well, and they collected all the debts. Because they were small they built realtionships with us and our customers, just like having another member of staff, they were very flexible allowing us to add or subtract customers from the factored list of clients as well. Worked well for us.
Hope that helps
davidy
How about factoring or invoice discounting, at a past company I part-owned we went to a small factorers who allowed us to factor on a per-customer basis, so we didn't have to factor all our business, lower interest rate than normal bank borrowing as well, and they collected all the debts. Because they were small they built realtionships with us and our customers, just like having another member of staff, they were very flexible allowing us to add or subtract customers from the factored list of clients as well. Worked well for us.
Hope that helps
davidy
Chris
They were ISIS factors in Goring-on-Thames, but whilst we were with them they were taken over/underwritten? by London Scottish
http://partner.decision-finance.co.uk
Goring Office:-
Isis Factors Isis House Red Cross Road Goring on Thames Reading RG8 9HG Phone : 01491875660
They now have an office in Telford as well
We selected them after un-flexible discussions with a couple of major banks!
Hope that helps
davidy
They were ISIS factors in Goring-on-Thames, but whilst we were with them they were taken over/underwritten? by London Scottish
http://partner.decision-finance.co.uk
Goring Office:-
Isis Factors Isis House Red Cross Road Goring on Thames Reading RG8 9HG Phone : 01491875660
They now have an office in Telford as well
We selected them after un-flexible discussions with a couple of major banks!
Hope that helps
davidy
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