When you are growing your business, the last thing you want to be worried about is cash flow. The problem is, when you are already spending to expand, and you have a large bill like VAT coming up, it can be difficult to continue investing. That was the issue faced by a firm of Chartered Surveyors working in Scotland. They were growing into exciting new areas and expanding the services they could offer, but they needed a bit of help with the timing on their VAT.
While the firm was bringing in more fee-earning staff and expanding into aerial drones, which may be one of the coolest things we have seen here at V4B Business Finance, they recognised the need for a loan. They already had projects in the pipeline that would cover their expenses, so the loan was just bridging the gap between when they needed the cash and when they could have it on hand.
This is a common issue for many professionals like Surveyors, Architects, Solicitors and Barristers. They have plenty of work, but their billing cycle and the type of work they do means cash flow can be uneven. That is a real problem when you are trying to expand, and you simply do not have the capital on hand to cover all of your expenses. To overcome this issue, we have worked with many professional businesses to cover tax, and VAT as well as providing advances against debts owed by clients.
Loans To Grow Your Firm
Our financing experts were able to quickly secure a £37,000 loan for the surveyor firm with a term of 3 months. It covered the VAT costs with no director guarantees. Using our established relationships with the lenders, we were even able to get same-day acceptance for the loan. By the time the repayments start, the surveying firm will have plenty of money to cover the expense, and they can keep growing as quickly as they like.
The service actually worked so well for the firm that they plan to renew this loan next quarter so they can keep on pace with their growth targets. This will allow them to bring on new staff more quickly and get them trained and earning sooner. They will also have more capital to invest in things like drones and flight training, which opens up a whole new world of business for them.
Results
We obtained the loan for our client, and they were able to keep to their growth schedule. As they bring on more fee-earning staff and offer more services, the firm will increase their revenue and have the ability to invest further if they choose to do so. They have also said they intend to use our services in future to smooth their cash flow.
Our experts are ready to help them whenever they need, and we are certain we will be able to secure another round of funding for them.
Takeaways
Growing businesses often need to use a loan or other financing to cover gaps in cash flow, but that can take time. Plus, most people are not lending experts, which means they may struggle to get financing that suits their needs. By coming to the professionals at V4B Business Finance, the Surveyors were able to focus on their business, knowing that they would have the money they needed when they needed it.
We were also able to get to know their company, so whenever they need another loan, we will be ready to go. That allows them to react more quickly to their business environment without having to keep large amounts of cash on hand.
If your business needs money to grow, bring on new talent or cover expenses, and you are worried that expanding will hurt your cash flow, call us today, and we can help you find the money you need in no time.
At V4B Business Finance, we can offer loans to help your business buy new equipment, cover tax or refurbish your current premises. This allows your company to retain its own money for longer so it can invest in staff or new projects.
What would you implement for your company if you could unlock the money straight away?
- Fast access to funds
- Flexible payment options
- Dedicated account managers
- Smooth your cash flow
- No arrangement fees
- Great customer service
