What is commercial finance?
Commercial finance is a vital tool for businesses of all sizes, enabling them to grow and reach their goals without the need to wait for sufficient capital to reinvest in themselves. This type of financing is primarily used to provide businesses with the working capital they need to operate effectively. By borrowing funds, companies can address issues such as late payments, cash flow imbalances, and the preparation of financial statements. Cash flow fluctuations are a common challenge for almost all businesses, whether on a monthly or annual basis, and commercial financing can provide the necessary support to navigate these challenges.
Commercial finance criteria
Commercial finance is available for all types of businesses and can be applied for by any business owner. The application criteria may vary depending on the lender, but typically, businesses are required to provide details such as bank statements, management accounts, and director information. Some lenders may have less strict requirements, while others may require more extensive documentation. There are also alternative options available for companies with poor credit history or start-ups that may have struggled to secure funding in the past.
Specialist Finance Centre’s approach to commercial finance
If you are seeking commercial finance for your client, the market can be difficult to navigate, as, compared to the residential 1st and 2nd charge mortgage market, a greater level of fact-finding and analysis of the individual and company is required to source the most suitable product.
For this reason, it is crucial to deal with an experienced commercial specialist who can take you and your client through the entire application process and to aid in securing the necessary funds to grow any business. Specialist Finance Centre can arrange loans ranging from £50,000 to over £10,000,000 at rates as low as 3%, and we have the knowledge, experience, and connections with lending institutions to make the process as painless as possible for our clients.
