Business Loan
Why Do I Need a Business Loan?
Business loans can be taken out for many reasons. One reason that some businesses don’t think about is using a business loan for financial arrears. The busiest times that we have seen is January and April when businesses are running low on finance to pay the HMRC tax bills. You know – Quarterly VAT, corporation tax and PAYE. This secret is having a plan in place to settle tax bills. We have seen an increase in businesses winding up and liquidations due to businesses not having a plan in place.
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This Secret Plan
Many businesses up and down the country wait until reminder letters are sent from the HMRC, but this is not best practice as we have found that one main reason lenders may refuse to lend, is because of outstanding tax bills. That is why making sure that you have enough reserves to cover these bills when they come through is critical. There are lots of ways to achieve those reserves; Invoice finance, business loans and refinancing assets. At tax problems we specialise in business loans.
- Unsecured Business loans up to £500,000 over 5 years
- Secured Business Loans up to £1,000,000 over 10 years
- Regulated Business Loans up to £25,000 over 3 years
We consider all business applications on a case-by-case basis. Enabling us to overcome difficult credit profiles as well as providing the best rates to established businesses.
