Start up Business Loans UK -
Huddersfield, Wakefield, Leeds, West Yorkshire

When starting a business, a start up business loan is obviously a major consideration. No business can trade without finance and most businesses will need assets such as vehicles to commence trading. At Almondbury Finance we specialise in giving assistance to start up businesses. Without trading accounts it can be difficult for a business to source finance for vehicles and other assets. Also, it may be more appropriate for a comapny to acquire premises than rent them and specialist advice will be needed to raise this financing.

Many viable money making ideas are put on the ‘back-burner’ because of a lack of finance. Taking a creative approach and using our connections with specialist finance companies we are often able to help. It is useful to look at projections of profit and loss accounts and these are the first port of call for most of the potential sources of finance. It has to be said that projections of accounts for new companies are often entering in to the realms of fantasy. It may be better in many cases to examine more closely where revenue streams are actually going to be generated as opposed to trying to look too far ahead.

Often a new company can be assisted by recourse to ordinary domestic types of lender. With this in mind Almondbury Finance is tied to a strong and well established provider of domestic type financing. This enables us to offer finance at competitive rates, tailor made to individual requirements. It may be that a simple loan arranged in this way will be sufficient. The loan repayments will be a known factor and the term of the loan can be adjusted to suit anticipated cash flow. It also avoids the pressure of an overdraft. If a bank gives an overdraft facility on day one, there is always the possibility that it could be called back in if the bank loses faith. Also the bank will normally charge a rate of interest above that achievable with a loan. Further to this most banks will charge a fee each year to re-agree the overdraft limit, thereby taking up valuable management time in interviewing the client.

Assets are often needed and a prime example of this is the company vehicle. Again companies often struggle to obtain the financing they need to acquire the assets they need at begin with. Using specialist finance houses we are often able to supply the finance required. Also we are often able to supply the vehicle or other asset required in addition to the finance. This will normally result in considerable savings for the company because we are able to pass on a bulk buying discount. We have been able to source a great variety of Plant, Machinery and other equipment for our clients.

Where a company needs to develop a product before it can begin to trade, the financing requirements mean a much longer lead time before successful trading can be established. In this regard it may be useful to explore granting and ‘venture capital’ routes. The granting situation is a constantly ‘moving feast’ in these terms. Certainly grants such as ‘Smart Awards’ can be considered, although the availability of these grants will need investigation. Venture Capital, on the other hand, is perhaps more reliably available. It must also be remembered that the Venture Capitalist will need to be courted and seduced in every case. Whenever there is financing from a venture capitalist there will be a loss of control of the company. It is a natural consequence of this financing that the financier will want a say in the way the company is being run. In most situations we are able to assist by taking a simple approach and providing simple answers to the needs of our clients.