Small Business Loans
Can lenders help small businesses become bigger ones?
Small business loans can be a boon to fledgling enterprises, but getting the cash can be complicated. Few lenders enable you to apply online, and in many cases it might be better to have a chat with your business bank to discover what's on offer.
The revolution in the UK loans market hasn't really impacted businesses so far: while secured and unsecured personal loans are available all over the Net, the firms that offer small business loans tend to have a "give us a call" graphic instead of the usual online form. That's because small business loans are more complicated than personal or homeowner loans, and lenders will usually want to see your accounts before committing themselves to handing over any money. You'll often find that the most sympathetic lender is likely to be the bank you're already with: after all, they know you well enough to decide whether you're a good or a bad risk.
Don't forget that in addition to small business loans there are other ways to get a cash injection for your firm: the government runs a number of grant schemes that you might be eligible for. To find out more, ask your local Business Link (in England and Wales) or Local Enterprise Company (in Scotland).
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