Government Backed Finance Available To Some SMEs
It is always good to hear about new sources of lending for small and medium sized business enterprises (SMEs). The more lending avenues available the better as, for one thing, it can lead to greater competition as a result of which finer rates may be available and enhanced products.
In July, Liam Fox, who is the Secretary of State for the Department of International Trade made an announcement that UK Export Finance (UKEF) would help some SMEs that supply businesses here in the UK that export goods and provide services obtain finance from a number of the high street banks. The Government has agreed to guarantee some of the borrowing.
The banks involved are Royal Bank of Scotland, National Westminster Bank PLC, Lloyds Bank, HSBC, Barclays and Santander.
There are no doubt many smaller businesses that would welcome another source of funding. This could lead to many such businesses increasing their turnover and net profit. This could also lead to more jobs being created within these companies that are much needed here in the UK.
Of course, there are numerous sources of finance available to SMEs. A potential problem that such business owners may encounter is that they are so involved in the day to day running of their business that it is difficult to set aside some time to look into the various lending packages available. So, if you are in that position, why not get in touch with us here at Commercial Mortgage Link and we will put you in touch with an experienced commercial loans broker to discuss your requirements and hopefully help source a suitable finance package.
The broker has an extensive panel of lenders and will endeavour to help obtain an extremely competitive commercial lending package that is tailor-made for your business taking into account a variety of things such as interest rates, fees, repayment term and security requirements. We look forward to being of assistance.