Available loans for business in the UK?

HBG Advisory > Available loans for business in the UK?


2020 has been a very unusual year for UK businesses. The government, under the instruction of Rishi Sunak, The Chancellor of the Exchequers, set out a series of support to help bolster the UK economy over the pandemic. Many companies, though not all, have utilised loans titled CBILS and Bounce Back Loans. However, subject to the pandemic downturn and the UK Economy refloating. Additional working capital will be required, providing companies do not fail.

We list just some of the available financial loans available for ease of use. We do though comment that list is not exhaustive.

However, an established or even new business needs extra money for various reasons, such as:

  • A downturn in the industry;
  • an unplanned accident;
  • normal business variation;
  • launching a new marketing campaign;
  • general development;
  • superseding equipment, with a later cost-efficient item of plant.

Types of finance therefore to consider

Other than those provided during the Coronavirus COVD19 Pandemics, then options to therefore consider remain:

  • Accounts Receivable; 
  • aircraft Financing & Leasing:
    • Capital lease;
    • operating lease;
    • secured loan. 
  • Asset-Based; 
  • capital Equipment Financing & Equipment Finance;
  • commercial Financing;
  • commercial Property;
  • equipment Leasing;
  • equipment Lines of Credit;
  • factoring;
  • inventory Financing;
  • invoice Financing;
  • lines of Credit (Business and Commercial);
  • merchant Cash Advance (MCA);
  • recourse Factoring;
  • sba loans;
  • small Business Lending;
  • startup Business Loans;
  • term Loans;
  • unsecured Working Capital Loans;

Various types of business finance options, therefore, exist. However, many more forms of loans, though exist, other than listed above; however, the above are the main ways of business funding. Each selection, therefore, helps to give businesses a type of financing that fits their requirements. 

However, while UK businesses are in the second lockdown. Companies considered viable going forward, therefore, need to be consulting with their accountants and financiers, ensuring they have the ability to grow again. Cash, once the pandemic is over, will be very tight. As at the time of writing, corporate insolvency has not surged. Will that surge happen? Nobody knows, hopefully, though the economy will be therefore sustainable.

However, many directors are expressing concerns over the first tranche of Bounce Back Loans, as the pandemic has entered a second lockdown. For further information view Liquidation and Bounce Back Loans.