How independent businesses can use Quick Capital to overcome the hurdles they face when seeking business finance

How independent businesses can use Quick Capital to overcome the hurdles they face when seeking business finance

Borrowing money from a bank can often be a challenging and onerous task for independent business owners. In order to secure finance, business owners generally have to sign a personal guarantee which holds them personally liable if they are unable to repay a loan. Because of this, banks tend to place emphasis on a business owners’ personal credit score as well as the creditworthiness of the business itself. Even if you have a good credit score, banks are still going to want collateral for the loan – usually business assets such as property and equipment, but in many cases it can even be your home.

Credit scoring is now heavily relied upon especially since the recent economic downturn, and many independent business owners will find their bank loan applications flatly rejected due to these uncompromising checks.

This is why Quick Capital has taken a different approach to business finance by offering a simple and easy way to raise funds.  We’re in business too, so we understand businesses like yours.

Unlike a bank loan, a business cash advance is unsecured finance which means your home and business assets are safe. An agreed sum is advanced to you against your future credit and debit card turnover and, unlike other types of business finance; you won’t need to struggle to find a fixed monthly repayment.

Of course, an assessment of your business will take place before we agree your cash advance, however, rather than using rigid and inflexible credit scoring we look at a real representation of your business – your annual credit and debit card turnover. At Quick Capital we recognise that not all independent businesses fit into their bank’s definition of creditworthiness, but that doesn’t mean to say they are undeserving of finance and the opportunity to grow. Every business is different and that’s why we take the time to understand each and every one of our customers’ needs.

To find out more about Quick Capital or see how much your capital your business could raise, visit www.quickcapital.co.uk