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Finance in Berkshire
c/o Business in Berkshire
Windsor
Berkshire
SL4 4BU
Tel: 01753 852904
Email
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Business Loans
Business Loans
Whether you’re a sole trader or a limited company, a new start-up, or running more than one business, the chances are you’ll need some extra cash at some point.

What sort of help?
Before you approach anyone, you need to consider how much money you need and how much you can afford to pay back. This will help you determine who to approach. Do you want borrow money from the bank or your family? Or do you want to use an overdraft facility?

The main sources of finance are usually:
• Bank Loan
• Family Loan
• Overdraft
• Grant
• Enterprise Investment Scheme
• Some charitable organisations

Most of the above usually require you to have a business plan.

The Business Plan
A lender has to be sure that they’re going to get back the money that they lend. To ensure this, you have to produce a business plan. It can be hard because you have to forecast your figures, and at the beginning you have no idea how things are going to pan out. Thankfully there are plenty of resources out there to help (see the ‘Business Plan Academy’ link below)

Prince’s Trust
If, like me, you’re lucky enough to be under 30 and you meet certain criteria, you could be eligible for the Prince’s Trust. They provide financial help for young people who want to start a business.


Interest Rates and Loans
We’ve all seen on the news how interest rates have been steadily rising. However, most loans have a fixed rate and the rate shouldn’t be affected during the term of the loan. It’s bad news, however if you have a business mortgage with a variable interest rate.

Fiona Seymour-Jesse
SJ Copy

PS: Check out my new newsletter “The Meaning of Words” from my home page.

http://www.businessinberkshire.co.uk/sjcopy/extra21.html

Useful Links

Princes Trust
http://www.princes-trust.org.uk/Main%20Site%20v2/About%20us.asp

Business Link
www.business.gov.uk

Enterprise Investment Scheme Association
http://www.eisa.org.uk/render.aspx?siteID=1&navIDs=21,59

Business Plan Academy
http://www.business-plans.co.uk/


The finance pages of Business in Berkshire are for general guidance only and advice should always be sought before acting on any of the suggestions made


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In this section:
Business Loans
Types of Loans
Loans- Payment Protection Insurance
Loans - Do You Really Need One?

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