SECTOR FOCUS: LEGAL & FINANCE ADVERTISEMENT FEATURE


Five reasons to use specialist finance


Paul Chadney, regional development director at specialist lender Together, explains when SMEs can benefit from using specialist finance.


The use of alternative finance for SMEs has been becoming more mainstream for quite some time now. In fact, the country’s largest banks are now referring clients that they can’t help directly to alternative lenders under the Government’s new bank referral scheme, a scheme which we are a part of, and one which is expected to fuel growth in Britain’s SMEs. At Together, we have over forty years’


experience in providing finance to suit a wide range of needs and often help businesses and entrepreneurs that require funding which may not fit with the more rigid criteria of the mainstream lenders. To help you to understand how alternative


finance could boost your business plans, here are the five most common reasons businesses use our specialist lending services:


To purchase property Often we are able to provide finance in situations where mainstream lenders are unable to meet


the necessary timescales. When a property purchase requires a quick completion, for example, we can provide fast and flexible funding.


To seize an investment opportunity Likewise, when businesses are looking to seize an investment opportunity, whether to purchase equipment or stock, extend operations, or to acquire retail or office space, our common sense approach means that we are able to work with businesses of all sizes and across multiple sectors in order to secure the funding they need.


To refinance existing debts Refinancing existing debts can help small businesses by consolidating debts into one, making them easier to manage and enabling them to plan ahead. Being able to refinance when necessary can


also help businesses improve cash flow, whilst paying off creditors and maintaining


relationships with key suppliers can be crucial in securing the reputation of the business.


To clear a tax bill Although the business may have an intended outlook of how to structure its debt in the future, sometimes it can be difficult for businesses to forecast a shortfall. So when it comes to clearing a tax bill, more often than not, finance is required quickly and can be vital in maintaining operations.


To release equity Another reason businesses may need to use a specialist lender is to release equity, which allows the client to raise money against the value of a residential property.


If your business requires short-term finance and you want to discuss requirements visit www.togethermoney.com or contact the regional development director for the South West, Paul Chadney, on 0117 407 0179 or paul.chadney@togethermoney.com.


May/June 2017 Chamber Profile 23


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