Funding for business

[sb-1]

Assuming that banks are unwilling to extend overdraft facility!?,what is the best and cheapest source of funding guys?

[jamesuk28]

Sell shares

Friends and family investment

Company credit cards (expensive)

Sale of surplus stock or machinery

Get on top of cash flow and late payers

Reduce running costs

Sub let (if allowed and viable) part of your premisis

If you are a newish company you may be able to get a grant

Directors / owners injection

[richardxjr]

Don't forget factoring & invoice discounting too if you supply B2B on credit terms. Close Invoice Finance have a juicy referral scheme in place so email me if you'd like me to put them in touch

[fergywales]

richardxjr, if you can get in touch to discuss Close Invoice Finance, had an initial chat with them today, but would be good to hear your opinions of them, as I take it you're an existing customer?

Email me on my profile or on [e-mail]

Cheers

[richardxjr]

Happy to talk, but can it wait 'til Monday when i'm back in the office?

Away with no email til then so have temporarily disabled my email-through-here thingy.

Hope that's OK

[fergywales]

No worries, Monday is good with me, gives me a chance to get the Rottweiler (accountant) out of the way with the EOY accounts.

[richardxjr]

Email on it's way

[Obiwonkeyblokey]

I have also found that the banks are still OK with loans and OD providing the business is pretty solid. Ia hve 3 businesses with 2 different banks and so far ( touch wood) its pretty much business as usual.

[richardxjr]

You now have another option; the bank of HMRC who I believe charge 6.5%pa:

http://www.hmrc.gov.uk/pbr2008/business-payment.ht...

[sb-1]

Thanks Richard.