XL Business Finance
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Business Financing

There are certainly many forms of business financing. Traditionally one would go to their own banks for a particular form of business finance. Banks can and will offer a whole one stop shop of finance solutions. But how do you know you are getting value for money and the best possible service within the market place. Undoubtedly certain banks have areas of expertise and we will always give credit where credit is due.  However  our complaint is that banks try be everything to everyone and quite frankly that doesn’t work.

In addition it is very dangerous to have all your borrowing facilities with one financial institution. We have recently seen an instance recently where the bank had provided an overdraft and invoice discounting and a commercial mortgage.  Unfortunately one of customers debtors went bust, the invoice discounting part of the bank informed the relationship manager  who then pulled the overdraft and the company went into administration. This would never have happened if the the customer had used an independent factoring or invoice discounting company.

It is very much our opinion that as many different finance products should be spread around as many different finance companies as possible. Whilst certain banks have a good expertise in certain areas i guarantee we could find an independent funder that can provide a far superior service without half as much hassle


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