Small Business Loansby Jason Campbell, Sep 2018
One of the biggest problems small businesses have to deal with in their infancy is a lack of start-up cash. We know it can be difficult to start making money without at first spending money. Bank loans are usually the most popular option for this initial monetary injection, however these can come with high interest rates that can be difficult for small businesses to handle.
That is why at Well Polished, we have a partnership with BizBritain: a credit brokerage providing finance and start up loans to small businesses. They have lent out around £16 million to 1,500 different start-ups.
They became the government’s delivery partner for the Start Up Loan Scheme in 2013.
We at Well Polished encourage our franchisees to seriously look into applying for a loan from BizBritain if they are in need of a bit more investment, as their interest rates are comparatively low and 100% of our franchisees that have applied for a loan with them have been accepted.
I asked Rosanna Relton, owner of Well Polished Bath, about her experience with the company:
“I found BizBritain online, they were really easy to talk to you and checked I was eligible to apply very quickly. They guided me through the application process and as it was for a franchise, the process was simple because the business model was already proven to work. I had a final phone interview, which was simple enough and I was told on the phone there and then that I was granted the loan. It has been very manageable to pay back whilst my franchise has been growing and I’d really recommend them.”
BizBritain offer start-up loans of up to £25k and growth loans of up to $5 million for existing businesses looking to expand. They are currently launching a new £50 million regional growth fund.
We could not recommend their services enough. For worthwhile and affordable loans, visit BizBritain.