Business Loans Guide
How to find a competitive wholesale loans
As a wholesaler you may need additional finance to source new stock, assist with arranging an important shipment, or even expand your business operations. A wholesale business can face a variety of pressures, but competitive wholesale loans could provide finance that is tailored to your specific situation.
Which forms of wholesale funding are available?
There are a variety of long and short-term wholesale finance products available, which can help with both day to day cash flow and financing large expenses. Our panel of lenders can provide everything from short-term invoice finance through to long-term fixed period loans. If you need to borrow anything from £1,000 up to a maximum of £20,000,000, we will have an ideal wholesaler business loan for you.
Many wholesalers need to finance expensive equipment or pay for large invoices when cash flow is limited, which can make loans such as asset financing and invoice factoring ideal. If you need to purchase new equipment or machinery, asset finance will provide a low interest rate with the loan secured against the asset you are purchasing. Alternatively, if your cash flow is struggling because of overdue invoices for goods supplied, it is possible to sell the invoice to an invoice factoring company which will release the money owed to you.
Of course, our lenders can also offer traditional secured and unsecured fixed term loans. These types of loans tend to be ideal for larger expenses such as financing an expansion or moving to new premises. By working with a range of lenders from high street banks to alternative peer to peer lenders, we can offer short-term loans to repay in less than 12 months, through to long-term affordable repayments spread over a number of years.
How to compare wholesale loans
We have developed a quick and easy to use finance finder tool, which is designed to put you in touch with lenders who match your exact requirements. By entering details such as your monthly turnover, the loan required and desired repayment period, our system will quickly compare the available loans to provide you with a list of lenders who suit your requirements.
You will then be able to compare business loans, the interest rates, fees and available loan terms, to find a suitable option. The application process is very quick and many of our lenders can approve loans within 24 hours, if the required documents are provided.
To improve your chances of approval and speed up the application process it is important to have your financial documents ready. The lender will want to see proof of your monthly turnover, bank statements and a business plan. This information will be used to decide whether lending you a wholesale loan is a low or high-risk option. The loan terms offered are likely to depend on the level of risk, with high-risk loans usually requiring a shorter repayment period and higher rate of interest.
To discuss the available wholesale loans and which lenders could loan to you, please contact our team today.