Are you a scaffolding company owner looking to expand your business, but struggling to secure the necessary funding? Look no further! In this ultimate guide, we’ll take you through everything you need to know about securing a business loan for your scaffolding company. From understanding what lenders are looking for in potential borrowers, to tips on how to increase your chances of approval and maximize your loan amount – we’ve got it all covered. Get ready to take your scaffolding business to new heights with our expert advice and guidance!

What is a Business Loan?

A business loan or working capital loan can be a great option for obtaining the funds you need to get your business off the ground or to the next level.

There are a number of different types of business loans available, so it’s important to let Scaffold Finance know what you need the loan for, so that we can choose the one that best suits your needs. For example, there are working capital loans, refinance loans, VAT loans and more. There are also loans that can be used for specific purposes, such as equipment loans.

The terms of a business loan will vary depending on the lender and the type of loan you choose. The term of the loan may also vary, with some loans being repayable over a shorter period of time than others such as a VAT loan which is repayable over a 3 month period.

When applying for a business loan, you will typically need to provide financial information about your business, including your latest set of full accounts and last 3 months business bank statements.

Qualifying Criteria For Business Loans

As a minimum, the lenders we work with will require:

1. Trading for more than 6 months
2. At least one Director is a UK homeowner
3. Minimum loan amount is £10,000

Benefits of Applying for a Business Loan

There are many benefits to applying for a business loan for your scaffolding company:

1. Settle at any time without penalty
2. Decisions within 24 hours and funds deposited within 24 hours
3. Top up your loan without signing additional documents
4. A separate source of finance to your bank and credit cards
5. Improve your business credit score

Getting the Best Rates on Business Loans

No matter how big or small your scaffolding company is, you may need access to business loans in order to maintain a healthy cash flow and keep your business running. But with so many different lenders out there, it can be tough to know where to start when looking for a loan.

The good news is that Scaffold Finance are here to make sure you get the best rates on business loans for your scaffolding company. Here are a few tips:

1. Positive balance sheet and profitable
2. Healthy bank statements – no bounced payments
3. At least 1 Director is a UK homeowner
4. Up-to-date with HMRC

Get in Touch with Scaffold Finance

For a quick quote or for more information on business loans get in touch with us on 01494 506383 or send an email to hello@scaffoldfinance.co.uk.