Different types of Commercial Finance
Commercial Finance is also called asset-based lending since approval of funds depends on the company's assets rather than the business itself
. Commercial finance loan requires a company to have good credit hence the lender considers the asset's liquidation value for loan payback. For instance, the commercial finance lender would consider the sale value of a company's desktop or vehicle to guarantee the loan's repayment. A certificate of deposit or CD is another way of getting funds. Business owners can borrow money from friends and use personal finance to secure a business loan which is a good way of increasing the credit worthiness on the credit report. There are different types of commercial finance such as asset based loan, account receivable factoring, import and export, inventory loan, purchasing order financing, secured credit line, merchant account, bankruptcy reorganization financing, expansion financing, commercial mortgage, etc. Many finance house companies offer mortgage assistance funds. Raising capital to invest in business is not an easy task, but there are many financial institutes that can help in finding funds for the businesses in the UK.
HSBC, one of the leading UK banks offers several financial products to new business owners to choose from. HSBC offers 18 months of free business banking to business startups and business switchers provided that the annual turnover is below 1 million, which means, the bank will not charge any service fee for 18 months. HSBC also offers staff pensions to meet business needs by offering pensions for employers and employees. Employees have access to their pension through Personal Internet Banking to monitor retirement plan progress.
Finance East Limited offers funds to new business ideas or business innovation to develop for market entry this includes first time revenues or contracts, market-validation, or putting operational process in place.
Total Bridging offers commercial loans for small to large size businesses for purchase, refinance, or expansion of a business or any type of commercial investment. Total Bridging also funds purchase of a property in need of refurbishment, with a view to resale on completion of the improvements.
Portman Asset Finance Ltd offers funds for a huge range of assets from catering equipment to garage equipment to financial houses to name a few.
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UK business directory Different types of Commercial Finance
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