2021 - XL Business Finance XL Business Finance

Archive for 2021

TAX FUNDING

Friday, November 19th, 2021

Businesses can often feel the pinch at this time of year as bills escalate and cashflow is erratic due to the slowdown of the Christmas period. Add to that quarterly VAT bills and many businesses can find themselves in a difficult situation.

HMRC has escalated business winding-up orders and liquidations and does not grant extra time to pay easily. So, it is paramount that working capital is available for when tax bills are due. All businesses are aware of their duty to HMRC but sometimes it can be difficult to predict a shortfall. We can help you fund all tax bills including VAT and Corporation Tax plus Payroll and other Working Capital finance.

We have a range of finance options to fund cashflow from Invoice Discounting to unsecured loans. If you need help funding a tax bill, a specialist VAT funding loan is a viable option. This short-term lending option has a maximum term of 6 months and low interest rates so you can manage the short term cashflow requirement without it costing a fortune.

Tags: HMRC debt, tax bill funding
Posted in Uncategorized | Comments Off on TAX FUNDING

New Website Live

Friday, November 19th, 2021

Our new website is live and is now much easier to navigate around to view the services we offer. If you are looking for business finance of any kind, take a look and contact us to discuss your needs.

Tags: business finance, website
Posted in General | Comments Off on New Website Live

Can secure more orders but need to hold more stock.

Monday, September 13th, 2021

A client that we have funded vehicles before approached us for a term loan to buy more stock.

They are a re seller of mattresses. They have an opportunity to supply a large chain hotel on a regular basis but have to hold more stock especially the more popular items.

Rather than a term loan that needs to be repaid and once spent, it is gone, we suggested a stock finance facility as they already hold a lot of stock.

We were able to secure a loan facility to borrow money against their stock and the more stock they held, the more they could borrow.

This worked out perfectly for them as it allowed them to build up the additional stock they needed and was secured against their existing stock.

Posted in Case Studies, Stock Finance | Comments Off on Can secure more orders but need to hold more stock.

Far better margins if we buy direct from abroad

Monday, September 13th, 2021

We have a client who is a re-seller in the plumbing sector.

For years they have bought goods from UK manufacturers but they have the option to buy the same goods from China for a far better price.

Currently their suppliers give them credit terms but buying in bulk from China, they would have to pay with the order.

The company already uses invoice finance and they simply do not have enough cashflow to do this. We introduced them to trade finance.

The trade finance company advances them the money to pay for the goods and then when the goods are sold to their business clients, the trade finance company also provide the invoice finance until the invoice is settled.

A complete solution from buying the goods to have their customers invoice settled in full.

Posted in Case Studies, Invoice Finance, Trade Finance | Comments Off on Far better margins if we buy direct from abroad

Cashflow tight but don’t want invoice finance

Monday, September 13th, 2021

We had a client who had trade debtors but did not want to use an invoice finance company.

The main reason for this was that the business was very seasonal with peaks and troughs in quarterly turnover and they didn’t want to pay for invoice finance when cash flow was OK.

We introduced them to a specialist company that provides them with funds each time they need them (like a traditional bank overdraft).

They only pay interest on the money when they borrow it. This solution suited them perfectly.

Posted in Case Studies, Revolving Credit Facilities | Comments Off on Cashflow tight but don’t want invoice finance

Opportunity to buy land and build premises

Monday, September 13th, 2021

One of our clients needed to scale up their business premises and had been leasing for the last 5 years.

They wanted to invest in a property for their family business and saw an opportunity to buy land with planning permission to build a unit of 9,000 square feet which was ideal.

We were able to fund the purchase of the land with a term loan, which was secured on the land at very good rates, as there are some specialist lenders that have access to subsidised loans where they are used to create jobs.

We then used a similar, but different, company to provide bridging finance for the build of the new premises. Once the premises were completed, we then provided them with a commercial mortgage to repay both bridging finance loans.

Posted in Business Loans, Commercial Mortgages | Comments Off on Opportunity to buy land and build premises

Opportunity to buy premises from Landlord

Monday, September 13th, 2021

A regular client of ours had an opportunity to buy his factory premises from his landlord after renting them for many years.

The issue was he had to find a 30% deposit. We were able to fund the whole purchase by providing a term loan as the deposit and a commercial mortgage for the balance.

Posted in Business Loans, Case Studies, Commercial Mortgages | Comments Off on Opportunity to buy premises from Landlord

Funding required to expand business

Monday, September 13th, 2021

A well established retail business had an opportunity to expand and purchase two new retail units.

These units required deposits, complete refurbishment and stock. In total nearly £300,000 was required.

Although a home owner with equity, the husband and wife team did not want to borrow money against their house and had no other assets (or so they thought).

However they both had pensions from previous employment and we were able to set up a facility with a specialist who enables people to borrow money from their own pension pot.

Posted in Case Studies, Pension Led Funding | Comments Off on Funding required to expand business

Adding to and replacing a haulage company’s fleet.

Monday, September 13th, 2021

A relatively new business was looking to upgrade it’s fleet of vehicles and adding to them after winning a large contract.

The contract would allow the business to more than double it’s turnover. The owner of the business was not a home owner and thought he would struggle.

We have a lot of experience in financing vehicles and equipment. We were able to finance all the new vehicles required and finance the replacement vehicles too. On top of that, deposits were required for each vehicle and we were able to refinance some of the older fleet to raise all the deposits for the new vehicles.

Posted in Asset Finance, Case Studies | Comments Off on Adding to and replacing a haulage company’s fleet.

Problems with HMRC arrears

Monday, September 13th, 2021

This company approached us to initially provide an unsecured loan to repay some large HMRC arrears.

Once we identified how the arrears had built up, we were able to raise most the money required to pay off the arrears in full, but we advised this business to put a time to pay arrangement in place with HMRC through a specialist that we know well.

Once that was agreed, we put a finance facility in place to ensure that the arrears were repaid on time as well as the current commitments.

Posted in Asset Finance, Case Studies | Comments Off on Problems with HMRC arrears

News

Archive for 2021

TAX FUNDING

New Website Live

Can secure more orders but need to hold more stock.

Far better margins if we buy direct from abroad

Cashflow tight but don’t want invoice finance

Opportunity to buy land and build premises

Opportunity to buy premises from Landlord

Funding required to expand business

Adding to and replacing a haulage company’s fleet.

Problems with HMRC arrears

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