In addition to business loans, there is a wide range of financial products now available to help businesses access the funding needed to grow and thrive.
We have produced a factsheet to explain the benefits of some of the most popular sources of finance such as invoice finance, asset finance, trade finance and supply chain finance. They set out, for example, how asset finance can provide cost effective use of capital equipment. They also outline how invoice finance can improve your businesses’ cash flow, through more effective debt collection.
Further information can be found by clicking on the links below:
- Asset Finance
- EIB Funding
- EFG Funding
- Supplier Payments
- Trade Finance
- Invoice Finance
- Business Angels
- Prince’s Trust Enterprise Programme
- Community Development Finance Association (CDFA)
A new export EFG scheme will be launched by the end of April 2011, click here.
Business Growth Fund
In addition to these alternative sources of funding, Britain’s biggest banks have come together to establish a new Business Growth Fund (BGF). The BGF will invest over £2.5 billion to help dynamic and growing medium sized UK businesses whose turnover is typically between £10 million and £100 million per annum. The investment is provided in the form of equity capital and complemented by loans and trade finance offered by banks.
If your business has a turnover that falls within the £10m - £100m range and has strong growth potential, the BGF may be able to help put in place the right capital structure to support your expansion. It won’t be right for everyone but if you think your business might be eligible you can find out more information at the BGF website: http://www.businessgrowthfund.co.uk/