Turned Down By Your Bank For A Business Loan? – Don’t Despair!
If you are the owner of a business then it is quite possible that at some point you will require the likes of a business loan. Many businesses approach their bank for finance and for one or more reasons some requests are turned aside. If this were to happen to you then what options do you have?
Well, the good news is that there are other lenders apart from the banks and building societies here in the UK that provides finance to small, medium and large businesses for a variety of purposes such as to purchase or improve business premises or invest in additional fixtures and fittings. So, just because your bank declines your lending proposition does not mean to say that you are not going to be able to obtain the funding elsewhere.
So, how do you go about sourcing alternative finance? Well, you could try to do this yourself but this could be time consuming and your time may be better spent in the day to day running of your business. Also, your bank may have turned your request for finance down for a specific reason so you really need to source a lender that may be prepared to look more favourably at your specific proposition.
In this respect, you may be better contacting a broker that specializes in arranging finance for businesses and has experience of sourcing lenders that may consider providing finance to businesses that have been turned aside by their bank. Here at Commercial Mortgage Link we are able to put you in touch with such a broker that has a panel of lenders that includes some who will consider applications for finance that the likes of your bank may have turned aside.
So, if you have been declined for business finance then why not get in touch and we will arrange an introduction. We look forward to hearing from you.