Seizing the opportunity, the client agreed to the purchase with another family member, setting up a new Ltd Company for the purpose. The client approached his own bank and other high street banks to borrow the funds however, they were turned away as these lenders took the view that he did not have enough experience and it was viewed as a “new start business”.

The team at Genie Lending could see the possibility in this established business and went about helping this client to source the right funding. Genie were successful in securing funding for the purchase of the business where others had been unable despite it being considered a start up.

The client was enormously grateful when terms were agreed and funds were paid out to the client within 4 weeks. A fantastic early Christmas present for our clients, which will see this cafe continue to operate with the passionate and care that goes into this business. Also a win for the local community and tourists alike.

Genie Lending have a wealth of experience in helping new start and young business raise funds based on both short term trading figures and projection led lending.

If your business has found funding difficult to obtain you can trust Genie Lending to go to every extent to provide the correct finance quickly, for the result you want. As well as the household names in the industry we have access to proven lending sources who you will not find on the high street. Our aim is to help UK SME’s obtain funding for all their business requirements, whether that be growth, acquiring premises, paying HMRC liabilities or simply working capital. Genie Lending can assist with complete finance solutions.

The post Funding for the purchase of a coffee shop in Worthing, Sussex. appeared first on Genie Lending: Business Loan Alternative Finance Specialists.

From a government backed loan to angel investors, take time to research the best possible funding path for the year ahead. Here are some lending solutions which are trending at the moment, offering legitimate ways to kick-start your business.

Crowdfunding

The growth of crowdfunding has led to countless web platforms being set up which allows anybody to set up a product or business idea. From Kickstarter to Crowdcube, people can generally invest anything from £5 to £500,000 to ensure good ideas are brought to life. With this type of funding bear in mind that high level investors may wish to be shareholders and you could end up dividing future profits hundreds of ways. Also, if you don’t reach your funding target you get absolutely nothing at all, which is a huge disadvantage.

Start-up loans

Some entrepreneurs may be eligible for a government backed loan which offers very low interest rates. However, there is a strict criteria to meet and lots of national competition for these loans so they are pretty hard to secure.

Angel Investors

Individuals which are wealthy and interested enough to invest in your business must be sent from Heaven! You can meet angel investors independently on Linked In, or use an online platform to be introduced. They can invest large amounts individually or act as a group to invest in one particular business.

Peer to Peer Lending

This is a type of business loan which is offered from an individual rather than a financial institution. The terms are often more flexible, sometimes the loans don’t need to be secured. To obtain this type of peer to peer funding you often need the contacts of a broker who can match peers with businesses requiring funding.

Pension Led Borrowing

Did you know that if you’ve built up an impressive pension pot, you could use this to fund your business? Even if you don’t have access to it, you can secure a loan by using your pension as an asset.

Good Luck!

The post How to Fund Your Business in 2017 appeared first on Genie Lending: Business Loan Alternative Finance Specialists.