BusinessKitBag 10:08 pm April 19th, 2017

Business Finance

Alternative finance options for new and established businesses

About Business Finance

Business finance of some kind is a necessity for many businesses, to provide working capital, purchase equipment, improve cashflow, expand operations, or establish new ventures.

The financial crisis of 2008 led to a tightening of traditional lending by banks and other institutions. Business finance became harder to access, particularly for younger businesses.

Business Finance

Fortunately, the post-financial crisis period has led to new innovations in business funding, including new lending institutions and Government-backed loans for startup businesses. New types of funding models and lending services outside of the traditional institutions have been established, often referred to as alternative finance.

The UK Government and European Union has got in on the act too, making funds available via programmes like the StartUp Loans Company.

Fin Tech and Online Finance

Online alternative finance falls under the umbrella term “fin tech”. Our recommended providers include a variety of recognised fin tech funding solutions covering all types of business finance, including:

  • Startup funding.
  • Business loans.
  • Asset finance.
  • Invoice factoring.
  • Motor vehicle finance.
  • Commercial property mortgages.
  • Bridging loans.

Startup Business Loans

Finding funding for a new business can be particularly challenging. Without a track record, a new startup will often fail to satisfy the requirements of a bank or other traditional financial institution, and borrowing money from family or friends is fraught with personal relationship risks.

Fortunately, there are a selection of very good seed funding options for startup businesses in the UK, and our recommended services include some specifically designed to provide newly established startup businesses with funding.

Start Up Loans

(Not enough ratings yet)

Get your business going today with a Start Up Loan

Start Up Loans are government-backed personal loans for business purposes. They are available to businesses yet to launch or those that have already started trading. The Start Up Loans Company works with a network of Delivery Partner organisations, who support Start Up Loan applicants in all regions and industries throughout the UK. | View Profile

Type: Startup Loans     Maximum Loan: £25,000

Transmit Start-Ups

(4.9/5 from 176 reviews)

Finance, support & mentoring for UK startup businesses

Our Start Up Loans, of up to £25,000 per person, are designed to help you get your businesses up and running. We approve hundreds of loans, for entrepreneurs like you, every year – from hairdressers and plumbers to app developers and film makers. | View Profile

Type: Startup Loans     Maximum Loan: £25,000

iwoca

(4.8/5 from 962 reviews)

Business finance. Simplified.

iwoca is a fintech start-up, offering a new type of finance designed for small businesses. An iwoca credit facility allows a business to borrow up to £100,000 on demand. It’s free to apply and there are no long-term commitments, no hidden fees and no complex forms. | View Profile

Type: Direct Lender     Maximum Loan: £100,000

ezbob

(4.6/5 from 471 reviews)

A fresh approach to business loans

ezbob is an online business lender to UK based businesses. Loans of up to £120,000 are available via a three-step online application process, including linking to business data points such as accounting software or eCommerce systems. | View Profile

Type: Direct Lender     Maximum Loan: £120,000

Virgin StartUp

(Not yet rated)

We're on a mission to change the prospects of start-ups for good

Virgin StartUp is an official Delivery Partner of the Government’s Start Up Loans scheme. The scheme was launched in 2012 with the aim to promote entrepreneurship and to tackle the problem of accessing finance that all early stage start-ups face. Since launching, the scheme has provided funding to nearly 38,000 businesses. | View Profile

Type: Startup Loans     Maximum Loan: £25,000

Wefundanydeal.com

(4.8/5 from 22 reviews)

The UK's Number 1 Business Funding Platform

Wefundanydeal.com is a simple and secure source of finance for all UK business. We aim to provide hassle free unsecured loans for business looking to improve their cash flow, we also provide business loans to startups. | View Profile

Type: Loan Broker     Maximum Loan: £500,000

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