How To Find Funding For A Young Businesses

08/06/2018

Accessing Finance

MatchMade

Recent trends sweeping the high street have given many first-time business owners the opportunity to start new ventures, while adapting to consumer demands and industry developments.

According to statistics from the Local Data Company, the number of beauty salons, coffee shops, ice-cream parlours and bookshops increased in 2017; showing that while the climate is tough, there still seems to be a surge of brand new businesses opening their doors in the hopes of capturing the local market.

That said, for a lot of these young businesses, one of their main challenges will still be successfully achieving a healthy growth rate and being able to secure the right kind of financing for their ventures. Now whether it’s to help cash flow, order new stock, buy equipment or deck out the premises to look the part, all of this costs money - and the idea of taking out a loan and borrowing huge amounts of money can be terrifying, especially when you factor in things such as interest rates, penalty fees and escalating payments!

So, even if you’re still at the beginning of your business journey, it’s essential to get wise on many flexible funding options available to you. For example, being aware that Liberis can offer a Business Cash Advance to new businesses that have been trading for as little as four months!

If this sounds like your business, here is how this type of funding could help you:

You don’t need to jump through hoops to qualify

With Liberis, as long as you’ve been trading for over four months and are taking at least 2.5k in customer transactions per month, you could take out a Business Cash Advance of anything from £2.5k to £300k. Decisions are made within 24 hours and are based on business potential rather than credit history which means that 70% of applicants end up getting approved - perfect for young businesses who are just finding their feet!

Everything is agreed upfront

You’ll get to agree an advanced amount upfront which will depend on your business’ average monthly credit and debit card takings. You’ll then get this as one fixed cost of finance with no hidden fees, interest or APR. This means no nasty surprises which can be the making or breaking of a business in the early stages!

It’s flexible and works with your cash flow

Cash flow is a common problem for young businesses and not having enough projection on this can lead to failure. With a Business Cash Advance, your balance is matched directly to your cash flow which means you only need to pay up when your customers pay you! So when you’re having a busy period, you can enjoy paying more of your advance off and when you’re having a quiet spell, you’ll only be paying back what you can afford. This is carried out through automatic repayments that are taken as an agreed percentage of your daily card takings.

Proving a more flexible and sustainable solution for new businesses, you probably won’t spend years paying your advance off either as repayment normally takes around 6-12 months.

 

As with anything, you’ll want to make sure that this is right option for your business. So if you’ve been trading for at least 4 months, have a steady amount of transactions coming through, and are currently taking card payments on your premises, a Business Cash Advance could be just what your business needs. For more information visit: https://www.liberis.co.uk

The Liberis Business Cash Advance - Designed to help SMEs
  • Funding from £2.5k to £300k
  • One fixed cost; no APR, varying terms or penalty fees
  • A quick, easy and no hassle onboarding process
  • Higher approval rates than the banks
  • Flexible and painless repayments that support cash flow
  • 80% of customers use us again
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Registered in England and Wales No: 5654231. Address: Third Floor, Glen House, Glenthorne Road, London, W6 0NG
Liberis is a responsible financial provider. Liberis does not offer 'short-term loans'. The minimum expected duration of a Business Cash Advance is 120 days / 4 months and typical expected durations are 6-12 months. These business financing products are not consumer loans.