Business Support

If a business is going to achieve growth, it needs to understand its financial position. Often preparing a business for securing finance or understanding what the debt capacity is within the business, is the key to achieving growth plans and securing funds to support it.

This upfront work may mean working closely with your accountant as well as with you to get your financial records into a shape which will get a favourable response from lenders or other funding sources such as grants.

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Financial Planning

As with your personal financial planning, successful businesses are constantly forecasting their business goals and objectives. This includes aspects you would expect to see in any good Business Plan, such as product development, marketing, channels to market, key skills required in the business. It also includes cashflow forecasting to support the income and profit targets you have for your business. It’s a well-known fact that most businesses fail due to cashflow shortfall which impacts the achievement of those income figures.

We can help you develop the financial tools you need if you are considering taking out finance to grow your business. We always work closely with the business accountant are they can be a key support to how your business progresses. We provide critical relationship aspects which are so often missing from your bank nowadays.

This support includes aspects such as understanding how much your business could currently borrow (known as debt capacity or debt serviceability), what your business needs to achieve in order to borrow or reviewing your current finance structure and banking terms.

Grants

Not all funding needs to be debt. There is a vast range of grant funding available for businesses, but often it is difficult to understand or find the schemes applicable to your business.

We always consider the grant landscape and which scheme might fit your business. Grant funding is very regional and we have excellent contacts and knowledge of grants available in Nottinghamshire, Derbyshire and Lincolnshire. We can use this knowledge to identify grant options in other regions.

We don’t profess to be grant experts, but we can signpost you to ‘free’ money. Ultimately, cash is king, and if you can bring free cash into the business to support your growth plans, you will have reserves to support future projects. Every little helps!

Starting a business?

There are funders in the market to support newly established businesses and start ups with a variety of finance products – asset finance, commercial mortgages, loans etc. They are harder to find but we can access them for you.

Additionally we work with the The Start Up Loans Company. They are a subsidiary of the British Business Bank and deliver the Government’s Start Up Loans programme. They provide finance and support for new and growing businesses (less than two years trading) who might struggle to access other forms of finance. As their affiliate, we can guide you through the application process.

Finally, it’s not always just about the finance. Having the right people around you to provide general business support is critical in the success of a new or recently established business. We work with trusted associates who can offer that support, either as a one-off or in an ongoing coaching capacity.

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FAQs

What is cashflow forecasting?

Business savvy decisions to maximise cashflow will help ensure your buisness is adequately equipped to navigate times of uncertainty and in the long-term, give your business the boost it needs to accelerate growth.

A cashflow forecast is a plan that shows how much money you expect your business to receive and pay out over a set period of time. It can help you plan how much you expect to make in sales and spend in costs.

Do you make grant applications?

We don’t tend to make grant applications on your behalf, but we have a lot of experience with the grant schemes and can signpost you to grants which fit your business as well as give you an insight to the level of detail you will need for your application. We are quite happy to look through your applications with you if you need an outside perspective.

How do I get financing to start a business?

Financing a new business can be difficult to source. Lenders want to see the confidence of the business owner in their new enterprise and expect to see personal financial investment in the new initiative – this underlines your commitment.

Not all banks provide finance for new businesses, which can include a business trading for less than 24 months. You will need a business plan and cashflow forecast for your new enterprise. You are also likely to need to provide details of your personal financial position, eg Assets/Liabilities/Income/Expenditure form and personal bank statements. Check your personal credit report to ensure it won’t impact you personally.

What is business start-up finance?

The right start-up finance gives your new business a solid financial base, ensuring you have the funding to cover your short-term needs and to make the most of opportunities to grow. Working out how to finance your start-up begins with knowing how much money you are going to need and where to find it.

Draw up a budget based on your business plan, including forecasts for sales and expenditure, and what your cash position will be each month. Do include capital costs, such as purchasing equipment, and most importantly: be realistic. Plan for sales being lower and later than you hope, getting paid may take longer and costs can be higher. And don’t forget VAT!

What are the best options for financing a new business?

The best option for finance will depend on your need. Generally, there are four sources of finance for a start-up:

1. Investment – this could be yourself, friends and family or other outside investors. It will be difficult to borrow money from a bank unless you have invested enough of your own money in the business. Showing that you are personally invested underlines your commitment.

2. Short term lending – In the early days, your bank overdraft is a good source to fund working capital. Your bank may also provide a business credit card – speak to them about options. Invoice finance may be a route to explore too.

3. Long term lending – Business loans and secured finance is usually the best way to finance equipment, vehicles and other long-term borrowing requirements. Asset finance may allow you to raise more money than a loan.

4. Grants – Check if you are eligible for any financial support through grants and other schemes. There are regional and central schemes available, some of which are sector specific. Areas such as exporting, technology and training are often targeted for support. Check what is available before you start trading or make purchases as grants cannot usually be awarded retrospectively.

What business assets can you borrow money for?

Generally, asset finance providers will consider a wide range of high-value items – both for purchase and leasing or borrowing against.

However, these assets must meet the DIMS criteria. That is to say that the assets in question are:
• Durable
• Identifiable
• Moveable
• Saleable

This can include vehicles, plant, machinery, IT hardware and software, printers, LED lighting, etc. Even livestock can be purchased on asset finance!
As a rule of thumb, asset finance becomes better value if the asset is over £10,000, but lower value assets can also be financed on asset finance.

How we work

Fact Find and Situation

We’ll discuss your current situation and immediate requirements, as well as gain an understanding of your longer term goals to ensure your finance requirement complements your business goals.

Assess and Analyse

Review of your business financials and information to ascertain the debt capacity within your business to ensure the all important affordability and your ability to repay any debt.

Research and Model

Explore all options available suiting your needs and model the various solutions, providing comparable terms and structures from a range of lenders to support your decision making.

Recommend and Apply

Outline the advantages and disadvantages of the range of solutions sourced so you can identify the most suitable deal for you . We complete the application to the chosen lender on your behalf, managing it through to completion.

Leave your details below and we will be in touch with more on how to start your journey with us

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Recent case studies

Read some of our recent real life examples of how we have helped others with business support and start-up finance

What are Commercial Lenders Looking for?

What are Commercial Lenders Looking for?

Almost every business experiences a period of financial constraint. When that happens, what course of action should they take? Well, their first port of call will be to look for alternative sources of funding - so they can keep the commercial wheels of their...

read more
Is the Recovery Loan Scheme right for you?

Is the Recovery Loan Scheme right for you?

We are now a month into the latest government finance support scheme, the Recovery Loan Scheme (RLS), and what we have learnt? Well ….. some lenders are still determining their application processes, lenders tend to be open to their own banking customers only...

read more
Start-Up Funding

Start-Up Funding

Our client Rorla Designs had recently started up their own business, manufacturing bespoke furniture. Having been in the trade for many years they knew their market and had identified a gap in the wholesale market which they wanted to take advantage of.   Product...

read more

Don't just take our word for it

Take a look at what our happy customers had to say about our service

"Working with FUNDING ROUND for finance makes my job easier! No matter how complex the deal, they take the lead and ensures the i's are dotted and the t's crossed."

- Neil Smith

"The service was great - very quick turnaround and kept me informed at all times. They even chivvied the dealer along but all in a very competent and professional way."

- Darren Round

"FUNDING ROUND opened my eyes to the benefits of using finance to develop my business - great advice! Useful to have a sounding board out there to look at different ways to grow. Plus FUNDING ROUND offer a great service to find the right finance solution! They even sourced the product for me and took the hassle out of searching around."

- Matt O'Mara

"We have worked with FUNDING ROUND over many years and have a valuable relationship benefitting both parties. Long may it continue!"

- Dan Hutchinson

"FUNDING ROUND are great at finding the right finance deal for us. They are thorough in their understanding of the challenge and tenacious in finding the best solution for us! Speed and reliability of service are excellent and dependable."

- Mike Neale

"Good professional service, highly competitive and knowledgeable - nice people to deal with too which always helps!"

- Melvyn Cross

"Our company have had the pleasure of dealing with FUNDING ROUND for a number of years. Often they have been able to obtain a favourable deal for us where others have struggled or failed completely. They are always quick to respond, very friendly and professional."

- David Wright

"As a fairly new customer to FUNDING ROUND, I have been very impressed at the professionalism and speed of service. Great pro-active communication too - keeps me informed!"

- TM, East Midlands manufacturer

“I found the process with Julia excellent. She was incredibly helpful, did all the legwork, took responsibility, had excellent knowledge of commercial mortgages and banking, and, importantly, got the best rates!”

- Manufacturing Business

"It was immediately obvious that FUNDING ROUND knew exactly what they were talking about and they very quickly found an appropriate lender. The company’s knowledge was excellent, they kept me informed throughout the process and I genuinely believe the deal wouldn’t have been done without FUNDING ROUND."

- Hospitality Business

"The things that stood out for me were how responsive and helpful FUNDING ROUND was. Ours was a complicated commercial property borrowing arrangement needing a specialist broker and FUNDING ROUND was perfect. I would definitely recommend and refer you, and have done so already."

- Commercial Property Investor