Tip 304) How to RAISE finance for your business

Massive thanks to Jerry from Associated Commercial Finance for his really useful business tip. 
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Raising finance for a start-up or young business can be extremely difficult without the ability to provide tangible security. However, the Government’s Start-Up Loan scheme is designed for just this reason.

The scheme operates throughout England and Scotland, welcoming applications from new businesses and those trading less than two years.

The loans are given to the directors/partners in the business, to a maximum of £25,000 per person. Hence, two directors could raise £50,000. The current interest charge is just 6%, and no personal guarantee is required.

The scheme is delivered through various local agencies, who will also assist with writing a business plan and provide mentoring for up to 12 months.

There are restrictions to these loans, so very often my clients raise as much as possible through the scheme because of the advantageous terms. I then work with them to secure the balance of money required from my panel of commercial finance companies.

Good luck!

Jerry 

Feel free to message or call me for more information: [email protected] or 07557 980473

​Jerry Riches
Associated Commercial Finance

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