Business Finance from Pink Loans
At Pink Loans we understand the pressures involved in running a business in today's marketplace. Raising finance for your business is something we understand and take very seriously. There are a whole range of options depending on your exact needs and situation. Let's examine a few of the popular options.
Asset Financing and Leasing
Leasing is most often used when you need to buy a more expensive piece of business equipment or a new vehicle. Rather than use your capital upfront, the leasing lender will buy the item, and you pay the lender an amount each month. You have full use of the item, although you are in effect renting the item from the lessor. Usually at the end of the lease term which may be 3,5 or more years, there is an option to purchase the item from the lessor for a nominal amount. There are different types of leasing wit hslightly different implications such as contract hire, lease purchase and operating leases. Aside from freeing up your capital, leasing has many tax advantages as well, as your lease payments can be deferred against your tax obligations.
Factoring
If you usually invoice your customers and give them 30 days or more credit terms, then factoring is a way of improving your cash flow. A factoring company will normally advance you up to 85% of your invoices within a day or so, rather than you waiting the 30-90 days for your customer to pay you. The factoring company will then expect to retrieve the fill invoice amount from your customer and return the remaining 15% to you minus their charges for the service. In some cases, the factoring company can look after your entire sales ledger freeing up your time.
Business Loans
Business loans are available from a variety of lenders as either secured or unsecured. A secured loan will be secured against an existing property that you or your business owns.
Commercial Mortgages
Just like a normal home mortgage, a commercial mortgage provides finance for you to buy a property, but in this case a property for use in your business. his may be an office, a shop or any other type of premises to be used for your business.
Recommended Business Finance Lenders
We've hand picked a few lenders who we believe offer a good mix of business finance loans to suit different needs. All the following can provide you with quick quote simply by filling out their online quotation. You are under no obligation to go any further with the loan application, and your details are always kept confidential.
Decision Finance - Arranges factoring, asset financing, leasing, invoice discounting and a range of other business finance products.