We totally understand the need to get the best possible deal on any business finance agreement. It is no different whenit comes to raising cash against unencumbered plant and machinery. No doubt any business wishing to refinance plant and machinery will go to their banks first . When they realise that this is an area of finance the banks cannot help with they will probably search the internet for inappropriate solutions. Any search of google will reveal hundreds of companies offering cash against unencumbered assets. The problem is that most of these will be brokers and when it comes to refinancing existing machines and equipment having too many brokers involved can have a detrimental affect on your credit aapplication

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In the current environment of banks being difficult in terms of providing new funding it might be worth mentioning another reason why a business should use another invoice discounting company other than their own bank particularly where a commercial mortgage is involved.

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Any search of google will reveal hundreds of choices of invoice financing companies. There are three main types of companies. Independent brokers, bank owned invoice finance companies and independent factoring and invoice discounting companies. Independent brokers are a good place to start. Not to be confused with an independent factoring or invoice discounting company that provide the funding and service themselves but are independent in that they not bank owned.

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Recently we have had a number of enquiries from businesses that need help and advice because they have ended up in a banks specialist lending or intensive care unit. If a business has had a dip in performance thee banks take the opportunity to move the business to this specialist division of the bank. Whilst the business does not need to be a basket case the cynical amongst us might think that the banks are taking the opportunity to slap a load of unnecessary charges onto their customer. Any business having such an experience will know all too well that they use this as an opportunity to increase interest rates and charge monthly management fees. In deed many businesses don’t ever come out and allot will end up going into administration. If ever there was a case for not having too many eggs in ones basket!

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Many businesses are seeking finance to enable them to import goods from foreign countries. Providing that the goods have been pre sold in this country it may be possible to get funding from start to finish by way of an international trade finance facility dove tailing against a factoring or invoice discounting facility.

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It is most commonly believed that the only way to obtain EFG funding is via the banks. On the basis that two high street banks have written nearly 80% of all EFG funding it is easy to understand why. However it is not commonly known that it is possible to obtain EFG funding on the back of a factoring or invoice financing agreement. This may prove very beneficial because the banks can be difficult to obtain funding even when the additional security of the EFG guarantee is available.

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There seems to be a trend for businesses to be investing in digital print technology. We are seeing many traditional litho businesses investing in digital equipment which will enable them to produce high quality short run work at a competitive price. We are also seeing many businesses bringing their print requirements  in house and investing in digital printing equipment which seems to have come of age in terms of quality and cost. For many businesses the investment is a no brainer in terms of the investment paying for itself however obtaining the necessary funding can prove a challenge for many businesses. This article may help you understand as to what is achievable in terms of finance.

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If your business is planning to make a capital investment that will reduce carbon emissions, waste or water consumption than your business may be eligible for a grant. The project must contribute to reducing CO2 emmissions  and generate wider environmental benefits.  XL Business Finance has teamed up with a firm of  local accountants that specialise in obtaining grants and business funding. Experience shows that if a specialise company apply on your behalf you have a much greater chance of success. Combined with equipment finance from XL Business Finance a project that otherwise may have been out or reach suddenly becomes a possibility.

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If you are looking to raise cash quickly  we can now offer a short term funding solution using your car as security. If you have a luxury car free of finance , you can release the moneytied up in your vehicle on a short term basis. The cash can be used for any purpose, e.g a deposit on a house or to ease a short term cash flow problem. During the term of the loan the car would be stored in a secure facility and would be delivered back to your door when the loan is repaid. The interest rate will vary depending on the individuals credit worthiness .

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Obtaining business finance for a new start business is most difficult at the best of times. In the current economic climate it is even more difficult especially if you approach your local high street bank for funding. Anyone who has had the pleasure will realise  that many banks promise the earth and after providing expensive business plans, cash flow projections and numerous meetings deliver very little. And more likely than not if they can do something they will want to take a charge over property and the wife and kids. The good news however is that XL Business Finance has been helping many new start businesses obtain various forms of finance.

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