Despite reports of banks reducing their lending, getting a business loan is still a route well worth exploring. Although it is fair to say that the banks have set the bar higher, and added more hoops to jump through, bank lending can still be the best option for a business which is looking to grow.
If you’re looking at options of how to raise funds for business, a business bank loan is worth considering.
Getting a business loan
Before applying you will need to ensure you meet the basic criteria for a loan – an obvious point that some people overlook.
Work out how much you can borrow sensibly and calculate at what rate you would be able to pay it back.
Banks will always want to see a robust business plan, before they sign a cheque, as well as comprehensive information about where and on what you will be spending their money.
Here is where the Hartsfield team can help. We’ll work with you on your business plan and we can act as an intermediary, so when you approach your bank you maximise your chances of success.
Whether you want funding via overdraft, term loan, or asset finance, call the Hartsfield team to see how we can help you apply for a business loan.