We can help you assess what finance you need for your business and then help you to raise the money.
It is important for many lenders or investors that you use your own money first and are fully committed to a business by being tied in financially. Lenders may ask you to put up your house or other assets as security.
The types of finance available to businesses are as follows:
- Bank loans.
- Investor loans – a mix of investment for shares and loans.
- Venture capital – usually an investment in your shares.
- Hire purchase finance on equipment.
- Equipment leasing
- Invoice discounting
- Government grants or loans such as the Regional Growth Fund.
- Crowd funding such as using Crowdcube in Exeter.
- Raising money using the Enterprise Investment Scheme – which is very tax efficient.
- Using your pension fund.
- Short term loans from quasi banks such as Exeter Finance Ltd.
When raising money it is very important you raise funds based on how long you need them. It is not practical to raise short term expensive money for a long term project.
A typical example is that we helped raise all of the funds for Lympstone Manor Limited. This was a mix of investor money for shares – totalling £5.6 million plus bank debt to redevelop the site at Lympstone. We wrote the business plan, drew up a target list of investors and contacted them one by one until we had raised the funds.
If you require help raising funds or would like to discuss your options, please contact our Exeter office on 01392 494904.