Business Funding in Kent

Business Funding Kent, a solution to a challenge.

Searching “business funding in Kent” AGAIN!?

Small to medium businesses (SME’s) often struggle to find funders who will walk with them through the peaks and troughs of business. Economically, the UK market has been hammered (relentlessly) Although 2024 is in its early stages, we’re already seeing businesses in Kent struggling to stay afloat. Recently, County Council leader Chief Roger Gough discussed Kents economic climate relating to local councils with the need ‘to change and innovate’ which is highly pertinent to local businesses and residents alike. Here is a snippet from the article by Kent Online:

Counsellor Gough said, “Across the country, some councils have headed into effective bankruptcy. We continue to keep that wolf from the door; at the same time, we cannot focus only on survival but on continuing to change and innovate, while delivering good services to the people of Kent.

Looking back on 2023, there have been some notable moments, some of which have seen us rising to support our residents through shock after shock, not least the cost-of-living crisis and helping people in the most difficult circumstances. This is something that remains an absolute priority.”

Credit options for SME’s

Let’s start by discussing two very different solutions to seeking business funding:

  • Traditional bank loans: Traditional bank loans are exactly what you think. Straightforward and inflexible. When sourcing a loan from a bank there are always a long list of conditions, not least of which is a fixed repayment term. Depending on the bank, repayment terms and interest rates will vary drastically. In addition, securing a bank loan can be a lengthy process entailing lengthy credit checks, business plan reviews … the list goes on.

 

  • Crowdfunding: Crowdfunding is sourcing small amounts of money from a crowd of people. Typically, this alternative financing method does not need repayment as the monies received are donations. Thus, growing your working capital with no outgoings. Internet crowd funding doesn’t have a long history, in fact, the first successful internet crowd funding took place in 1997, when rock band Marillion used to fund their reunion tour. Crowdfunding is a double-edged sword as you are relying on donations to come in, it’s not deemed a viable option for sustainable growth.

Whilst both options are viable, they both come with their own pain points. Traditional banks loans (and most other loans) can cause business to seek additional income to meet the repayment terms. As discussed, the money simply isn’t guaranteed with crowdfunding.

Is there another option to business funding .

Funding solution for sustainable growth.

Below we will talk through the main benefits of using Invoice finance to solve of your “business funding Kent” search:

Invoice Financing: Invoice finance is an alternative funding solution which allows businesses to access the value of invoices before they fall due. This empowers SMEs to bridge cash flow gaps, invest in growth, and meet operational needs without waiting for lengthy payment cycles. Invoice financing doesn’t solely rely on your credit score, whilst it is a factor, the quality of your debtors is also a factor. Meaning, as a start-up with no credit, or a well-established business with a less than desirable credit score, you can take advantage of invoice finance.

Improved Cash Flow: Receive to up to 80% of your invoice value within 48 hours, boosting your financial flexibility.

Faster Growth: Invest in equipment, or inventory to accelerate your business expansion plans.

Process: After the application process and approvals, you can receive funding within 48 hours.

Enhanced payment terms: If debts are paid off promptly, SME’s may be able to negotiate better payment terms with their collectors.

Boosted credit score: Debts which are paid off in a timely manner can help support a business’s credit score.

Grow your employees: With positive cash flow, your employees and business can benefit from increased training and support.

Reduced Risk (Recourse Factoring service): Reduce the risk of late payments with recourse factoring facility. Recourse factoring provides you with outsourced credit control, with our humancentric approach we correspond with debtors on a timely basis, which in turn leads to prompt payment of the debt.

Why Choose Partnership Invoice Finance?

Beyond the core benefits, Partnership invoice finance advantages for business funding Kent:

  • Industry-Specific Expertise: Access finance providers with a deep understanding of Kent’s diverse industries, from agriculture and tourism, to manufacturing and technology.
  • Local Support: Benefit from personalised guidance, and support from local finance professionals who are familiar with your business environment.
  • Faster Decision-Making: our local expertise enables us to take a different view of local businesses, reducing processing time and enabling us to make an informed, locally driven decision.

Unlocking Your Business Potential:

Kent has a very competitive landscape, with opportunities for everyone from start-ups to established business. Invoice finance offers a flexible, and accessible, solution for businesses of all sizes, freeing up working capital to fuel growth.

Partner with us, a local invoice finance provider, and turn your outstanding invoices into immediate opportunities for success.

Contact us today, by clicking here.