The best place for any SME to go to raise finance is their own Bank. You will have a track record with them and they will in most cases be the least expensive option.
But where can you go if your Bank says No?
There are, however, many alternative sources of funding if you know where to look.
LGBA has over 650 alternative sources of finance for SMEs on our books.
Independent and alternative sources of finance for your cash flow or growth challenges include:
Invoice Discounting & factoring: We have 56 independent providers on our panel and love putting them in competition with each other to get you the best deal.
Single or selective Invoice Discounting: If you only want to occasionally sell one of your invoices and do not want to sign a full ledger deal, then this type of provider may be the answer to your short term cash flow problem.
Debt Crowdfunding: Growing in importance and popularity all the time, this is most probably the quickest way to raise finance. Most facilities are normally completed within 3-4 weeks. 6 months to 5 year loans can be arranged for sums from £5,000 to £1m. We work with the 4 largest providers.
Trade Finance: Once again from the major banks but also from the many independent trade finance houses. This is funding for confirmed orders that you have, but cash flow does not enable you to fulfil them.
Stock funding: In the past very difficult to come by but a few new lenders have emerged.
Sales and leaseback of already owned assets to help buy additional assets or just to ease cash flow.
Short term debt finance: from £10,000 to £100,000 for a few weeks or a few months
Short term debt finance: Based on an advance on your credit card sales
Turnaround Funding: This is for companies in distress and can be available from specialist turnaround angel networks.
These are just a few of the types of finance that are available.
LGBA is your one stop shop for all your cash flow and funding challenges.
For additional information on alternative sources of finance and when they should be used download our Funding Options whitepaper.
For a confidential discussion on any cash flow, funding or growth challenges please email firstname.lastname@example.org and one of our Business Funding advisors will contact you directly.
More information on Business Funding