Why do you need business loans

Why do you need business loans?

Here at Scaffold Finance, we are partnered up with (and have been for some time now) a peer-to-peer lender. This very reliable lender can assist us in arranging finance for several unsecured business loans. These business loans can be used to cover all areas of your business. Whether you are a new start up or a well-established company there is always room for finance! As seen in one of our previous blogs here, the benefits of leasing & finance are vast. For more information on why you need business loans to aid growth in your company, please read on…

What is a business loan?

A business loan is, nice and simply put, a loan for businesses! It is the process of borrowing finance which is then repaid with interest. This is normally paid in fixed monthly payments. Here at Scaffold Finance, we usually spread this over a term of 1-5 years. This is one example of how we can tailor the agreement to meet your finance needs. If you would like more information on how we can help, please contact us using our details below.

VAT Loans

VAT Loans are probably the most common and popular loan we tend to help finance. These are any loans that are used to repay a company’s VAT bill. The process is simple and easy to go through. It works whereby we pay HMRC directly for you. This means there is no hassle on your end of the agreement, and we can take care of all the admin for you. We also have a free-to-use VAT calculator on our VAT Loans page, which can be found here. This allows you to see the finance options for any amount spread over a 3-month period. For any further information or quotes, please don’t hesitate to contact us!

Corporation Tax Loans

The Corporation Tax Loans process is very similar to the VAT Loans process, whereby once you have signed the agreement, we process the information. This includes everything from the amount, the term and how much the repayments will be. We then arrange for HMRC to be paid directly. This comes from the bank using your own tax reference. The main potential information we may need from you consists of company accounts, management figures and your companies’ last 3 months bank statements. All of these should be ready to hand, therefore not a difficult process to retrieve.

Working Capital Loans

These types of loans are normally used to fund everyday costs. This includes things like rent, employee salaries and any operational costs that are necessary and regular in your business. They are normally used to cover small gaps in your cash flow, when the business has hit a slow patch or even when there are larger projects on the go that need your cash more urgently. Here at Scaffold Finance, we can offer you industry leading rates as well as a tailored agreement to suit your business.

Dilapidation Loans

These loans are normally used when a company moves office. However, they can be used for other uses and includes large projects that businesses may forget to set out a bigger budget for. This also includes repairs and expenses including soft strip out furnishings, the removal of partitioning and the changing of lighting as well as much more.

We also offer finance for other business loans, so if you do not see the one you need listed, do not worry! We are on hand to help you with all your finance needs and if you get in touch with us a friendly member of the team will be happy to talk you through your options.

Contact Us

With our team of experienced leasing experts, Scaffold Finance should be your first port of call for all finance enquiries. If you have any queries about why you do need business loans, please feel free to get in touch. Email us on hello@scaffoldfinance.co.uk or call us on 01494 506 383 to find out more about how Scaffold Finance can help you. You can also see our LinkedIn page for more information.

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