Small business finance options can help a business pay for essential improvements, invest in itself and achieve big goals.Â
As a small business owner, there are several financing options you can consider. These depend on the amount of money you want to borrow, what you’ll use it for, how quickly you need the funds, and whether it will be a short or long term solution. Here are some small business finance options.
Small business finance options you should know about
Business loans
Business loans can be a great way to fast and affordable finance. With rates from 1.9% per year and funds in as little as 5 days, Funding Circle is a great place to start.
Cash advance
Using Satago gives risk insights, credit control and funding options to help you manage every stage of your debtor cycle. This means you can keep your cash flow moving and your business running smoothly. If you need to cover an unexpected bill or a large stock order Satago offers a fast cash advance using single invoice finance.
Another small business finance option is a business overdraft
Most business current accounts include the option of an overdraft. This gives you the freedom to spend more than your balance when you need to. You will be given a set overdraft limit with an agreed interest rate. This can be a helpful short-term small business finance option.
Business credit card
A business credit card can be a fast way to cover large and small business expenses online and in-person. Most banks offer the option of a credit card with their business current account. Your card will have a monthly spending limit.
Carefully planning your finances should never be taken fore granted as a small business owner. Our personal approach will deliver the information, insight and tools you need to fulfil your potential and meet your goals. Contact us to discuss your business financial needs.
