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How is business so far in 2022 ? ( DS ) Business seems to have carried on from 2021 where we saw our best year to date with supporting c £ 160m worth of funding for our clients .
The property market has continued to show signs of growth and this seems likely to repeat itself in 2022 despite rising costs and supply issues . Land prices do seem to have raised significantly based on the popularity of the area since Covid , which is making it challenging for developers .
SMEs are making more enquiries into growth finance or funding for purchasing other business / services . We do expect some businesses to start to struggle to maintain paying back loans used during the height of the pandemic , so we ' re happy to chat through options available as it seems a large number of lenders are back in the market looking to support .
What trends do you think you will see this year when it comes to lending ? ( NC ) In property development we see another strong year with the pipeline for new developments looking good , despite rising cost and supply issues . Property investment also continues to have strong demand for rentals in both the residential and commercial arenas , especially for warehouses . There is some uncertainty as to what will happen for trading businesses , but it seems there is strong resolve in the local business community to succeed and grow in 2022 .
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What piece of advice would you offer business owners at the start of the calendar or new financial year ? ( DS ) Take some time to review your current situation and check that you have the right funding structures in place to achieve your goals in the next 12 months . Although the funding landscape is difficult to navigate , there are lenders out there who want to help .
If you are worried about your financial picture , speak to an expert and build a relationship with someone who you can trust to talk about your finances .
We can sit down with you , provide advice about your funding structures , and help you navigate the number of funding options available in the marketplace that you might not be aware of .
There are over 200 alternative lenders in the market who are ready and willing to support businesses , often where mainstream banks have closed doors to them . As a Commercial Finance Broker , we are ideally placed to guide you through the finance market : we know the lenders available , their strengths and weaknesses and how they want proposals presented to ensure a swift and competitive response .
How do you support SME businesses with cashflow finance ? ( NC ) Running a successful business can be a challenge , especially if your business is subject to seasonal highs and lows . It is important to be prepared for any unexpected issues that could affect your cashflow and cashflow finance could be the answer by assisting with the following :
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• Helping even out peaks and troughs in the cash flow cycle
• Tackling long payment terms and money held up in unpaid invoices
• Fulfilling expansion plans such as new staff , premises or projects
What are the funding structures for cashflow finance ? ( DS ) Finding the right type of finance for your business can be difficult , but we can help guide you in the right direction of different funding structures such as short term loans , bridging finance or invoice finance to ensure that cashflow doesn ’ t become an issue for your business .
How do you make the process as simple as possible for SMEs when applying for finance ? ( NC ) The Team have over 300 years collective experience in Commercial Banking so are well placed to know and understand the lending market and the different types of funding structures available to you . We will sit down and get to know you and your business , what your goals and projects are and what is important to you for seeking finance , whether that be rate , term , flexibility , security requirements . We will then support you through the entire lending process , right up to approval and draw down and be the point of contact with the lenders for any queries or information requests . Our aim is to try and make the process of borrowing money as smooth as possible so you can concentrate on running your business .
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