Compare Business Finance Products Today at MoneySupermarket, how to finance a business.#How #to #finance
Compare business finance products
Seek out the best deals on a wide range of products including in-credit business current accounts, cashback business credit cards and short-term business loans – plus get exclusive deals on business products that you can’t find anywhere else.
Business finance. Trust us to explain it simply
Medium to long-term business loans
We ve provided a list of those who can help if you re interested in taking out a medium to long term loan.
Every question you have around commercial mortgages – solved
Business saving accounts
Just like a personal account, you can manage and save your financies to support your business
Financing for the things where your business needs it most
Short-term business loans
From helping with cash-flow to expansion costs, a short-term loan could be an option if your business needs a boost
Often an ideal solution when in need of a instant cashflow-fix.
Business current accounts
Compare and find the best business current account to suit your business
Business credit cards
Facilitate staff spending and much more with business credit cards
Business money transfers
Credit cards can be used as a way of managing both staff spending and cashflow.
Ensure your business has the protection it requires
Just like your home, compare and save money on your business energy and gas
Managing business expenses
Discover a great alternative to a business credit card
What are business loans
All you need to know about taking out a loan for your business.
What are business current accounts
The best way to keep your personal and business-banking separate.
Business savings accounts explained
All you need to know about taking out a loan for your business.
Peer-to-peer business loans
A loan that comes from individuals, as opposed to the bank. We explain how.
How it works, and how it can benefit your business
What are business credit cards
Credit cards can be used as a way of managing staff spending and cashflow
Business finance in general
When it comes to managing your business finances, it’s not all that different from managing your personal finances.
The key difference is the fact you want to seek out products that are specifically designed for business use, as these will offer better rates as well as other features aimed at making running your business easier for you.
Who business finance is for?
Business finance is for any type of business, no matter how big or small.
You may want to think about business finance if you operate as a sole trader, or if you are a limited company – or if you are anything in between.
Who can apply?
Anyone who owns a business can apply for business finance, but you must remember that with some products, such as business loans, it may be difficult to get accepted in the current uncertain climate.
As a general rule, those businesses with the cleanest credit record have the best chance of getting accepted – and of getting the best rates.
What products are available within business finance?
There are a wide range of products available within business finance offered by numerous different banks and other financial organisations, including business current accounts, business credit cards and business loans.
Each product on offer in business finance has been designed with business in mind, and will help you to run your business operations more smoothly.
Why are we the best website for business finance products comparison?
If you’re looking for business finance products then you need look no further, as we compare hundreds of deals from different providers in one place to seek out the very best deal for you and your particular needs.
We offer a free and independent comparison tool, and also have access to exclusive deals on business finance products that you won’t be able to find anywhere else.
Yahoo Finance – Business finance, stock market, quotes, news, how to finance a business.#How
how to finance a business
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Small Business Loans: How They Work and What You Should Know, how do business
Small Business Loans: How They Work and What You Should Know
Small Businesses are increasing their payrolls, but hours worked and wages earned are down slightly. Photo: Reuters
For small business startups, knowing how loans work and getting them are absolutely crucial.
Many entrepreneurs, however, wait until the last minute to think about loans and prefer to dwell on grandiose plans, never mind that they often need loans to fund those plans.
Asking for loans is “unpleasant; it’s like asking your dad for the car keys,” said Charles H. Green, Executive Director at the Small Business Finance Institute and author of The SBA Loan Book.
Small businesses should start this “unpleasant” process early, however, partly because it could prove to be long and difficult.
One entrepreneur Green encountered secured his loan at the 60th bank he approached.
While this might be an extreme example, small business owners often need to try at more than one bank to get a small business loan.
During the process of dealing with a bank, moreover, they may be asked to provide additional documents they previously did not anticipate needing.
Green stressed that small business owners need to be patient in this entire process.
Banks Want Their Money Back
In making any small business loans, the goal of the bank is to get its money back. Even if the loan is made through the Small Business Administration (SBA), it is still a bank that ultimately risks its capital.
Banks usually get their money back from the borrower’s revenues. If that is not possible, banks can also get their money back from selling assets pledged as collateral or from the small business owners personally.
Therefore, besides documents relating to the business projections, banks may often request documents relating to the personal finances of the small business owner and whatever assets that can be pledged as collateral.
Backing up Projection Numbers
Regarding business projection numbers – that is, assessing the probability of repayment from borrower revenues – it is all about justifying those numbers, preferably with facts, said Green. For existing businesses, that may mean financial statements.
Some of the hard questions a lender may ask include:
*How many customers do you need?
*How do you find them?
*Who are satisfying these customers already?
*Why would they feel compelled to buy from you?
*What is your capacity to deliver those products?
*What is the cost to deliver those products?
Sometimes, the best efforts of small businesses to secure a loan are not good enough.
When rejections happen, Green recommended turning them into learning lessons. Often times, if the small business owner manages to remain calm and polite, he can get candid responses as to why he was rejected.
These explanations often turn into keys to successfully securing a loan from another bank in the future.
Choosing the Right Banks
Other times, though, a rejection from a bank has nothing to do with the borrower at all. That is, a lender may not have any money to lend.
Therefore, Green recommended that small businesses avoid banks under consent agreement with or issued a cease and desist order by the Federal Deposit Insurance Corporation (FDIC).
Generally speaking, smaller banks have more flexibility in their lending standards while bigger banks usually offer cheaper rates, added Green.
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