Welcome back to the Simply Business Finance blog. As promised this second September blog is covering off another batch of important financial terms that we include across our website and other media, every day. We hope you find both articles insightful and should you require any further clarification on any terms you come across, let us know!
Financing – When we talk about financing, we’re referring to the process of providing funding to a company, for business purposes. This could range from making purchases, investing or for other business activities. Institutions such as banks and smaller lenders can provide the necessary capital to businesses and customers, to ensure they can complete the required purchase of products and services that might otherwise be unaffordable to them, while setting up a repayment scheme with the business. Simply Business Finance can support you with a number of Financing options.
Independent broker – An independent broker is exactly what we are here at Simply Business Finance! We are totally independent and do not work exclusively with one lender, rather we have access and have built strong working relationships with a number of financial institutions, to ensure that we can always offer our customers competitive solutions.
Invoice finance– Any business that issues invoices can access invoice financing. The invoice finance company charge a small percentage of each invoice as a fee for their service, but in the process give you a large percentage of the invoiced amount at the time of issue. It gives you the benefit of instant access to money owed, without needing to wait for the customer to pay.
Loan– Business loans can be necessary for a number of reasons. They aren’t reserved only for businesses who are struggling and require a cash injection, but are perfect for those businesses already trading well, who are ready to take the next step in their development and growth. A loan allows you to receive capital instantly, with a repayment schedule set up to return the funds at a later date, usually with some added level of interest attached. Simply Business Finance can support you in reaching a range of competitive lenders.
Property finance– We offer a number of property finance solutions, namely Commercial Mortgages and Bridging Loans. Property based finance is focused on your business premises and the proceeds from a commercial mortgage are typically used to acquire, refinance, or redevelop commercial property.
Refinance– Refinancing is a method of accessing cash from unencumbered items like machinery or vehicles owned by a business. If you refinance assets that the company owns, you can release necessary funding, which can then be used elsewhere around your business. The process is straight-forward, with a lender buying he machinery or asset from the company, and then leasing it back at a fixed payment.