What do you do when you need a quick business loan and the listening bank, won’t listen. Obtaining a quick business loan is not always possible with a bank and we appreciate that due to extremely tight lending criteria, this is not always the bank’s fault, but down to personal circumstances. That is where Cashsolv can step in and provide a quick emergency business loan of £20,000 to £250,000 within 24 hours which can help you through a critical time.
Quick business loan for cycle business
A recent example of this can be outlined with a business we recently helped by providing a quick business loan. With the council’s bailiffs due to arrive the following week, the director of a London-based bicycle business approached us initially for an unsecured £15k emergency loan. Cashsolv were able to help by providing a quick business loan even though his bank were not willing to go beyond the existing unsecured £20k overdraft that they were providing.
But we don’t just stop at providing quick business loans, we like to look deeper into the cashflow problem. Whilst we worked with the director and assessed the financial position to find a workable solution, we discovered a number of other issues. In particular the company was on stop with a key supplier with customers being let down, and we identified other debt arrears of £20k. The director also had plans to move to more suitable retail premises but the costs of moving were £5k.
We look at the bigger picture
Using our expertise and financial knowledge, we prepared a three year financial plan which showed cost savings, a profitable trading projection and a business finance need up to £40k, not £15k. We also identified investment property owned by the director had higher equity than he thought. Our solution, rather than a quick-fix £15k loan, was to advance a quick business loan of £25k immediately on the strength of a personal guarantee, with a further £15k on first lender consent to a charge on the investment property which took a further ten days. This lending facility is for a six month period to allow the director to refinance properly in due course; effectively we are bridging that permanent solution and not just knee-jerking to the bailiff.
Following the satisfactory conclusion, and initial quick business loan, we continue to have regular progress dialogue with the director, who values our wider advice.
Cashsolv quick business loans are ideal if your business:
- Needs funds within 24 hours
- Is a limited company
- Has a proven track record
- Require a short or long-term loan
- Have a Personal Guarantee
- Wants to avoid bailiffs and legal proceedings
If you find your business in a similar scenario, and are in need of a quick business loan or need to advice to improve cashflow, contact Cashsolv immediately for free impartial advice and to relieve the immediate financial pressure. Avoid problems escalating and future business failure - the sooner you contact us, the sooner we can help you and your businesses. Our experienced team are here to help you, ensuring future business continuity. To get a transparent quotation on how little our quick business loans cost, see our business loan calculator.
Alternatively you can Download our Guidance Paper on emergency loans.
- Business loans
- A guide to Short term business loans
- Emergency business loans
- Emergency business loan - why not use a bank
- A guide to Small Business Loans
- How quick business loans can encourage business turnaround
- How to get a quick business loan
- The pros and cons of secured business loans
- How to make business finance work for you
- A case study: How we helped a recruitment firm invest for growth
- A case study: Quick business loans could be the answer
- Business loan calculator