Wenham Specialist Finance is a commercial finance broker, working with businesses in Bristol and throughout the UK. We believe that finding the right funding for your business should be simple, transparent and hassle-free. That’s why our expert team supports you from the beginning of the process, providing all the help and advice you need along the way.
How Does Commercial Finance Work?
Here’s a quick overview:
There is a range of commercial finance products to fit your Bristol-based business and its needs. Here are just a few options.
Bridging Loans:
A business loan is a popular way to raise capital, whether to optimise cash flow, acquire new assets, or invest in growing your business. Secured loans require an asset as collateral, but they usually have higher borrowing limits and lower interest, as well as more flexible payment terms. For an unsecured loan, you may be asked for a personal guarantee.
Start-up Loans:
Many business loans are restricted to companies with a certain minimum turnover and trading history. Start-up finance is a way for brand-new businesses to fund the cost of getting up and running. Loans are personal and unsecured, and you’ll need to submit a detailed business plan as part of your application.
Invoice Finance:
Unpredictable cash flow can be a killer for your business. With invoice finance, you can assign outstanding invoices to a lender, who will immediately advance you part of the value. Once the client pays up, the lender subtracts their fee and forwards you the remainder.
How can I use commercial finance?
You can use commercial finance for anything related to your business. Examples include:
Paying unexpected expenses or bridging a cash flow gap
Buying or leasing high-cost assets such as machinery, equipment and vehicles
Everyday outgoings such as staff costs, utilities and rent
Buying stock or raw materials
Covering the upfront cost of a project, such as a construction job or a hotel development
Setting up and running a franchise
Acquiring and renovating a property that can’t be mortgaged, such as an uninhabitable house
Paying administrative fees, tax and VAT, HR and legal costs
Growing or diversifying your business, or acquiring another company
IT infrastructure, office equipment, furnishing and fit-outs
Our team has experience across a wide range of sectors. We can guide you in choosing the right product for your specific needs.
Does commercial finance carry any risks?
Any kind of financing brings a degree of risk. Failure to pay off the entire amount of a loan, lease or hire purchase plan can impact your credit score and even lead to legal action. In the case of a secured loan, you may lose any asset you’re offered as collateral.
This is why lenders typically require a range of financial evidence before approving your application. As well as asking for income accounts, profit-and-loss projections, cash flow forecasts, a detailed business plan and other documentation about your business, they’ll also carry out credit and security checks to ensure that you are financially responsible. Both your business and personal scores will be taken into account, so you should resolve any outstanding issues before you apply.
Get in Touch
If you need commercial or specialist finance, we're here to help. Use our form to submit an enquiry or get in touch with a member of our team directly.
At Wenham Specialist Finance, we are dedicated to helping you understand commercial finance in London and support your business growth and investment goals.