With so many finance providers offering different finance types, with varying structures and repayment options, it can be difficult to find the one that’s best for your business. Your mobile lender broker can take away this stress and find the right solution for you.
We’ll find the right loan
A business overdraft provides access to cash to cover short term requirements. An overdraft is often unsecured, but is likely to offer a cheaper interest rate than a credit card.
If you need to make a larger purchase, you might consider a business equity line, which is suited to businesses that might need a cash injection on a very occasional basis. This form of business finance is likely to require security.
If you know how much you need to borrow and for a longer time frame, you might consider a business fixed rate loan, which gives you the certainty of fixed month payments. But if your cash flow is up and down you might opt for a business variable loan, and tailor repayments to the seasonality of your business.
What you need to show
You’ll need to demonstrate a history of financial performance, including evidence of solid cash flow and the ability to manage expenses and liabilities.
With the huge variety of loans available, your mobile lender broker can help you navigate through the various options to find the one that’s right for you.