Business Loans Guide
A guide to partnership finance
Whether you operate as a sole-trader or partnership, securing finance for your business can help you grow and expand. There are many forms of partnership finance available, from longer fixed term loans to short-term options such as credit cards.
To help you find partnership funding which suits the specific needs of your business, we have created this useful guide.
Determine your partnership finance requirements
Before searching for partnership loans, all partners should carefully determine what the exact needs are for the additional capital. If you spend time creating a detailed business plan you will know how much you need to borrow and how long for.
A comprehensive business plan will also help you secure competitive finance by providing lenders with an insight into the financial aspects of your business, both now and in the future.
Compare partnership finance options
Our panel of lenders includes high street banks, challenger banks, online lenders and also alternative lenders. By working with a variety of lenders who specialise in many different forms of partnership finance, we can offer the most suitable loans for your business.
Whether you require short-term finance or a long-term repayment plan, through our lenders we could provide your partnership with anything from £1,000 to a maximum amount of £20,000,000.
Our lenders can provide traditional fixed term loans, however to ensure you have flexible finance which suits your exact requirements we can also offer loans such as lines of credit, asset finance, merchant cash advances, invoice finance, credit cards and overdrafts.
To help you find the ideal partnership finance for your business, we have created our finance finder tool. By asking you a range of simple questions such as how much you need to borrow, what you need the loan for and your financial situation, we can quickly match you to a variety of loan options.
Who is eligible for partnership finance?
The finance finder is designed to act as a pre-qualification step, so our tool will analyse the information you provide to find forms of partnership finance which you are eligible for.
Every lender will consider different criteria when processing your application, although the most common aspects they will review are your credit history, financial accounts and your business plan.
If your partnership benefits from solid finances and a good credit rating, you will benefit from access to the most competitive financial products available. However, if your business has struggled financially you may be offered a higher interest rate or a shorter repayment period.
It is possible to improve your chances of being accepted for partnership finance by providing security or a personal guarantee, where your assets are provided as collateral for the loan amount.
If you would like to know more about the partnership finance available to your business, please contact our team. We specialise in assisting businesses to compare financial products, so will be able to assist you in finding the right form of finance for your specific requirements.