What types of business loan are the best?

The best type of business loan for you will be determined by what you want the money for. Working capital is often best dealt with by a flexible overdraft type product that you can dip in and out of as you need to. A recurring need for working capital might be better met by an invoice finance or factoring solution.

Asset purchases, e.g. vehicles or machinery, are often most suited to hire purchase or leasing where the lender will see their primary security as being in the asset itself.

An investment in growth, e.g. new offices, purchase of another business or even an expansion of staff is probably best dealt with by a loan with the length of the loan and the repayment arrangements matched to your requirements and cash flow.

Talk to us about how to find the best type of loan for your business.

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