Equipment Finance & Business Growth

A business equipment lease can add considerable value to a small to medium sized business. Whether it be for restaurant equipment, cars or trucks, salon and beauty equipment, excavation equipment or retail fitout, the ability to secure this form of finance can be of great importance when looking to expand.

Its often only when you come to needing finance that owners of small to medium sized businesses wish they had been more conscious of keeping accurate and up to date financial records. Many business owners are so immersed in the day to day running and operations of their businesses that the administration side of their operation suffers.

In our experience their are a number of industries where this tends to be more common. Those who operate in the excavation and hospitality industries are amongst the main culprits. Many of these businesses are 'one-man shows' and its extremely difficult for these people to find the time to keep their accounts in order. While the ability to maintain accurate records is of great importance in any business, its now possible for business owners to secure finance with little or no financial documentation. Our Express No Doc Business Solution product is aimed at the business person that wants to grow their business but for one reason or another just can't produce the necessary documentation to satisfy mainstream lenders. Whether it be an equipment lease, rental, or commercial hire purchase - we have an ability to assist.

The productivity of many businesses today is so dependent on having the latest equipment. Without the right equipment a business can go under very quickly as customers or contracts move to suppliers who can cater for their needs more quickly and efficiently. The right equipment can also have significant cost savings in a business as there is the potential for it to replace manual labour or produce larger outputs in a smaller time. The purchase of new photocopier was a recent example for one of our clients. They replaced a copier that was 10 years old with one of the new range of copiers. The copier increased output by 60% and reduced the manual involvement of employees in the office, freeing them up to work on more productive tasks.

Unsecured Business Loans - Finance Business Projects with Ease

A person aspiring for establishing a business may not be having enough at hand for supporting the project. Though he has the option of loan open but since he is starting a business, he may not think it fit to risk his property merely for a loan or may be he does not own a property. In such conditions unsecured business loans are useful for these types of borrowers. Usually unsecured business loans are preferred by those who are entering in a business field freshly. But the loans are taken for expending the existing business as well. Through unsecured business loans one can buy office space, furniture, equipments etc or the loan can be utilized for paying previous debts also.

Unsecured business loans are provided without taking any of the applicant's property as collateral. So the loan is completely risk free for the business persons. Unsecured business loans are thus provided solely on the basis of repayment capability and past record of the borrower. If the credit history of the borrower is good, the loan comes at easier terms and conditions. If the lender is convinced about its safe return, any amount from ₤5000 to ₤100000 can easily be availed. Because of the risks, lenders charge higher interest rate on unsecured business loans. However there is convenient repayment duration of 5 to 25 years attached to the loan. This means the business person has many years for establishing business and repaying the loan.

It is clear that unsecured business loans are costlier as higher interest rate is charged by the lenders. This means the loan should be availed only in the time of urgency. Also make sure that you have adequate surplus amount for regularly paying the loan installments. If you are unable to repay the loan then you are burdened by a higher interest rate debt which may jeopardize you financially.

It should be noted that unsecured business loans are offered mainly on your financial credentials. In terms of credit score, it can be said that you should be having a good credit score of 6oo to 620 for ensuring a unsecured business loan at good terms. But that does not mean that bad credit borrowers can not apply for unsecured business loans. Bad credit business persons too are eligible but they should convince the lender that the loan will be returned in time. Take a convincing repayment plan along with your income sources and bank statements and the loan will be in your pocket. The type of business you are investing the finance in also matters much while considering loan application of bad credit borrower.

For unsecured business loans seekers the cost is the most worrisome factor. Higher interest rate can scare some business persons. But instead of running away from the loan, make efforts for availing at comparatively easier terms. Compare different unsecured business loans providers on internet for individual interest rates. Settle for the lender of comparatively lower interest rate. Also see if the lender is interested in providing unsecured business loans to bad credit borrowers. Apply online to the lender for quick processing and timely approval of unsecured business loans.