Small Business Loans and Financing
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Borrowing money as a small business loan is the most common funding method used by startup entrepreneurs and but bank finance might also be the right option for your business.
Business loans come in all shapes and sizes, and offer a range of interest rates, repayment terms and guarantees. You can either borrow a business loan to pay for fixed assets in your business – like your equipment and furniture – or take a one off amount for the whole set up process.
Apart from banks, there are a range of specialist lenders that may offer preferential interest rates and more favourable repayment terms on a small business loan. These are aimed at new ventures, but may agree to fund established businesses in special cases.
These include the Prince’s Trust, an organisation devoted to offering small business loans to young and underprivileged entrepreneurs; Prime, for business loan for people over 50 years of age; and the Industrial Common Ownership Finance, which concentrates on employee-owned businesses and social enterprises.
