The Ideal SME Finance Deal
Tips and tools are revealed on how SMEs should approach seeking finance along with strategies to improve their success with gaining finance.
Utilizing online resources and guides can help SMEs learn more about alternative finance options.
“Industry associations such as the Federation of Small Businesses and Enterprise Nation, as well as local growth hubs or chambers of commerce, could also be a great first point of contact for businesses keen to find out more about the options,” said Juliette Peyraud, Senior Account Manager at Spotcap UK.
Other sources mentioned in the article include utilization of a corporate adviser, a loan broker and an accountant.
When it comes to pitching, SMEs must have a thorough business plan and projected success.
According to the article, “The majority of unsecured loan providers require the business to prove that they are trading profitably. New-start businesses will need to provide something in lieu.”