Other Finance Options
Other Finance
While Invoice Finance is an excellent solution for many businesses, it may not be the right fit for all. If your business requires alternative forms of financing, we can help you explore a wide range of commercial finance options. At Factoring Finance, we work with an extensive independent broker network to find the best facility for your business—whether you’re seeking to fund growth, asset purchases, or manage working capital.
Common Types of Commercial Finance Include:
- Commercial Loans
- Commercial Mortgages
- Bridging Finance
- Asset Finance
For more details on these options, please explore our website or contact us directly. We can guide you to the best solution for your needs.
Commercial Loans
We specialise in arranging commercial loans and reportage’s for businesses of all sizes, including self-employed traders and partnerships. These loans provide the capital necessary for business expansion and growth.
Most commercial loans involve borrowing a specified sum, which is repaid over an agreed period. While there is often flexibility for overpayment, keeping up with monthly repayments is essential to avoid financial difficulties.
Commercial loans usually require some form of security, depending on your business’s performance and creditworthiness. We are here to help you navigate this process and find the most suitable loan package to meet your specific needs.
Typical Uses for Commercial Loans:
- Investing in stock, shop fittings, or long-term lease purchases.
- Purchasing or leasing factories for development or rental purposes.
- Funding capital purchases such as plant and machinery.
- Land purchases for commercial or residential development.
- Improving commercial properties for sale or rent.
- Developing all types of commercial properties.
Our independence ensures we can offer a range of options tailored to your needs, without the limitations imposed by traditional banks.
Commercial Mortgages
Finding the right commercial mortgage can be challenging, especially in today’s economic environment. High street banks and building societies often impose excessive security demands and high interest rates that many small businesses cannot afford.
As independent brokers, we help you locate specialist lenders who understand the specific needs of your industry. Unlike major banks, we have access to a wide variety of lenders, ensuring that we find the best deal for your business. This independence allows us to provide impartial advice and secure the most competitive terms available in the market.
Bridging Finance
Bridging loans offer short-term commercial finance solutions, typically used to fund major projects such as property purchases. Bridging loans provide quick access to capital, enabling businesses to seize opportunities with minimal formalities.
Typical Uses for Commercial Loans:
- Property Refurbishment: Purchasing and renovating properties for quick resale.
- Property Purchase: Bridging the gap between buying a new property and selling an existing one.
- Property Auctions: Securing finance quickly to meet the typical auction settlement period of 14-28 days.
Bridging finance is always secured against residential or commercial property, with a first or second charge placed against the property. It can be arranged much faster than a conventional mortgage, typically within 2-10 working days from the initial inquiry.
We can help secure up to 100% of the purchase price for the right proposal. However, be aware that failure to keep up with repayments could lead to property repossession.
Asset Finance
Asset Finance allows businesses to acquire essential equipment without the strain of upfront costs. Instead of paying cash outright for capital assets, asset finance enables you to spread payments over a fixed period, easing your cash flow and preserving working capital.
Asset Finance is Available for:
- New and used vehicles (cars, coaches, light and heavy commercial vehicles)
- Plant and machinery
- Office equipment
With over 30 years of experience in commercial finance, we have deep expertise in a wide range of industries, including construction, engineering, manufacturing, plant hire, printing, transportation, and professional services. This allows us to tailor asset finance solutions that suit the specific needs of your business.
