Another option to help businesses unleash funds tied up in unpaid invoices. Up to 90% of the cash value of the invoice can be paid in 24hours and the balance paid when the invoices are paid and you pay circa 3.5% fee.
Eligible businesses must be a limited company or LLP and have a turnover of £100k minimum and filed with companies house.
You must sell goods or services to other businesses**
Finpoint is a business finance platform to help SMEs to find the right finance for their circumstances.
Finpoint can help prepare a single finance application to cover 80 different platforms.
Business loans- flexible ways to fund growth projects.
Leasing or Hire Purchase- subject to tax position of the business may be more cost effective to lease.
Invoice and Trade finance- improve cash flow plus useful for import/export businesses.
Growing Places Fund
The growing places fund is part of the growth fund aimed at providing infrastructure loans to businesses developing their own sites and may have a funding gap. Up to £6m available on a first come first served basis.
Loans between £500k to £1m. Loan interest depends on the strength of the business and financials.
Northern Powerhouse Investment Fund
Northern powerhouse investment fund works with Local Enterprise Partnerships to provide grants, loans for businesses. This covers micro, debt and equity finance from £25k –£2million.
Micro finance: Funds available from £25k – £100k
Small business loans for new or growing businesses to support working capital.
Debt finance: Funds available from £100k - £750k
Business Loans which will require security for early stage or more established businesses that can demonstrate growth potential.
Equity finance: Funds available from £50k - £2m
Early and later stage equity funding. For established businesses with ambitious plans or large Start-ups with high growth potential.
The NPIF will not directly invest in business but will signpost sub fund managers to deliver the various levels of funding by area. .
Visit www.npif.co.uk click on the funding option required and you will be contacted in 3 working days