Can you speak to friends and family, this is often the cheapest form of borrowing and can be exchanged for a loan note which promises to pay back the amount or for equity in the business. Often this type of borrowing comes with little or no security criteria. It can be difficult to ask friends and family but certainly worth considering.

You home can be useful as an asset if you have enough equity to secure the funds you need, however start ups often are hard to accept due to the risk of income to service the new debt and often for start ups it may cause issues if its a new position for you.  Established business which provide good income streams for you can work , it does depend on your risk views and the equity available.

Again start ups are not usual today an accepted risk for the bank. However as much as some banks advertise this they will want full security , meaning charges on your property and personal guarantees

For established business it will depend on your position with the bank and the case for the funds. The banks underwrting and credit teams will scrutinise the need for the borrowing. if its for instance secured on a property your own or a commercial property then with a strong business plan and financial forecasts the bank may help.

If your business has a strong balance sheet and has accumulated assets, for example buildings, plant and machinery stock etc, then asset finance is a strong method to raise funding.  Northwest Business Funding understands the criteria for lending. We can help you understand this lending section and help with business plans and financial projections to prove ability to service the loan, which in all cases  is essential.

This category covers a wide range of banks, and lenders. in all cases the criteria will be the same. They will want full detials of the business and the projections, reasons in detail for the loan and at least personal guarantees from Directors. Northwest Business  Funding  can explain the criteria to you once we understand your business need and identify the best solution based on your instruction.

Depending on your business there are at times grants and funds available for different projects.  Grants are usual driven by strong criteria and have in the past been European funded ! We will watch this space closely and there will be a rush in the coming month to access these funds. Start up companies can apply for grants for some elements and it can be dependent on the type of business, For example Tech business are getting better access to funding than manufacturing.

Direct or indirect peer to peer lending or crowd funding is a growing phenomenon, still in infancy stage and mainly driven by Tech companies more platforms are appearing to provide  this type of funding. It is not suitable for all businesses as it is uncertain and can fail. The amounts raised require a reward of some type in most cases

We beleive this type of funding , driven by negative interest rates on saving will grow and will become a more controlled and commercial route to funding.