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Bad Debt? - Small Business Financing

Small business financing, Small business finance, Manchester, London

A very specialist area of small business financing is Turnaround Finance or bad debt finance.  High street finance companies and banks traditionally don’t have the expertise or appetite to help business facing financial difficulties.

XL Business Finance has over 10 years experience dealing with bad debt financing. It is a well known fact that nine out of ten businesses fail due to lack of cash rather than through lack of profitability. We can give advice and help in all aspects of small business financing.

It is always recommended that a specialist corporate recovery accountant should be consulted if a business is facing financial difficulty. A good corporate recovery specialist will always provide a free initial assessment and often there are many turnaround finance solutions available to help with small business financing through possible difficult times.

The finance solution maybe as simple as obtaining an arrangement with the Crown to spread any Vat, Tax or PAYE arrears. 

It is often possible to refinance capital equipment to release cash to ease cash flow problems. If the business has suffered a bad debt, bad debt factoring or bad debt invoice discounting may be possible invoice. It may be possible to provide bad debt protection or credit protection to help ease the burden of future bad debts.

Many business owners are taking the option of putting their business into administration and starting afresh with a new business. New business financing or providing new business finance for a “phoenix” is a specialist area of business finance and is again one that traditionally high street banks and finance companies are unable to get to grips.

Refinancing equipment and or refinancing machinery is a way of raising cash to buy the assets of the administrator. Combined with factoring, invoice discounting or cash flow finance will provide a leaner and meaner business going forward.

 

New business financing

Small business financing

 

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