Commercial Loan Advice – What Is Needed For a Business Loan?

The Chancellor has recently announced a new ‘National Loan Guarantee Scheme’ to support lending to businesses – yet why is there so little enthusiasm in response to it?The Treasury confirms this with these comments “the scheme might not increase the overall amount that banks lend to British Companies”. Businesses may see it as boost at a time when funding issues are a sensitive issue but the feeling is it’s just another tape ridden scheme to ‘help’ businesses survive in this tough economic climate.Our commercial finance specialists say – “No doubt it will be another scheme to join the tsunami of failed initiatives. Just ask yourself, what happened to the Enterprise Finance Guarantee Scheme – why is there such a slow uptake? What happened to the Enterprise Capital Funds? Local Enterprise Partnerships? The list is endless and it all seems to be entangled in red tape.”There are clearly incentives there but businesses are likely to struggle with the time to manage their applications for such finance. There is the copious amount of administration, time and extra costs businesses are unable to allocate to such projects.This is where our commercial finance partners can help your business. We can apply for business finance on their behalf leaving them to manage and grow their business. After a free initial meeting with no obligation they will know the right way to access your clients finance whether it is direct through our strong panel of lenders or through a finance scheme thus overcoming the hurdles on your clients behalf.Such is the plethora of commercial finance schemes available it is unlikely that any one business can be an expert in all of them. Commercial mortgage brokers may tend to steer clear of equipment leasing for example and vice versa. Legislation often ensures that to be fully authorised and approved as a supplier of certain products it is thus not viable to spread yourself too thinly and look to be an expert in other fields.All but the very largest companies tend to remain specialists in their area of expertise rather than cross over into other fields. FSA regulations ensure compliance and therefore that the business advisor in question, assuming they are undertaking to give guidance covered under FSA regulations of course is indeed qualified to discuss such matters.Keeping up to date on movements in government policy is also a challenge in itself so any good advisor will ensure they have kept up to date on such matters also.If you have any questions regarding the Financial market then please get in touch via my website. I am happy to offer guidance on what’s available in the market based on personal experience and an honest appraisal of what options are best for your business.