So you want to take out a loan for your business. You’ve gone to the bank, and don’t fit their lending criteria. You’ve made some enquiries elsewhere, but ultimately have not had any luck. Does that mean that your business cannot get finance, full stop?
Well, as the old saying goes, there is more than one way to skin a cat. If your goal is to get finance for your business there might be more than one option on the table to you. For example, even though you might not meet the criteria for a business loan, you might be eligible for asset finance, factoring or invoice discounting. These might not necessarily be at the forefront of your mind when you think about raising finance, but can prove to be useful solutions if required.
At the end of the day, every business is different and has different requirements, which is why at ASC Finance for Business, we take the time to speak to every small business owner or entrepreneur in order to make sure that we understand their requirements and can get the right finance for their business.