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40 FUND YOUR BUSINESS


HAVE A GREAT BUSINESS IDEA, BUT NEED FINANCE TO MAKE IT A REALITY?





Lancashire Community Finance is a not- for-profit organisation, helping people and businesses across Lancashire to thrive.


Since 2013 we have been an accredited delivery partner of the British Business Bank’s Start Up Loans scheme.


Start Up Loans provides low-interest personal loans & mentoring to business owners and aspiring entrepreneurs in the UK.


Key Start Up Loan features: Available for newand early-stage businesses Pre-loan support with business plans & cash flow forecasts Borrow up to £25,000 per co-founder Fixed 6% p.a. interest rate 12 – 60 month repayment terms No application or early repayment fees


Contact us to see how we can help you to start or grow your business.


01772 205 031 | sulp@lancashirecommunityfinance.co.uk www.lancashirecommunityfinance.co.uk


Lancashire Community Finance IPS Limited 4 Fleet Street Preston PR1 2UT Registered Society IP29863R | Authorised and regulated by the Financial Conduct Authority FRN 659275


FUNDING OPTIONS FOR NEW-START BUSINESSES


by Adam Wadie Small business lending manager, LCF


Whether you’re a new, early- stage, or established business, you’ll need capital to set up or scale up your operations.


 your business: borrow money, sell an equity stake, or bootstrap your way to growth.


Debt remains the most popular  British Business Bank calculated 90 per cent of all external  through debt, driven by owners who are keen to maintain control over their business.


Established businesses can provide  but what should new businesses - with limited or no trading history - do?


Create a solid business plan


Provide lenders with a clear plan that gets to the heart of your business–what it does, how it works, and what makes it different.


It’s vital to show how your  for your planned activity.


Fundamental to every business plan is research – learn about your target customers, understand market trends, and know what your competitors are doing.


Prepare a robust cash flow forecast


  operations that repays loans.


Lenders will assess if the forecast is consistent with your business plan, whether realistic assumptions underpin projections, and if it stacks up against their knowledge of your industry.


Know what you are applying for


Explain what you need and how funding will help you reach your business goals.


Take time to understand loan terms and conditions to make sure the offer is right for you and your business.


FUNDING TO


ACHIEVE GROWTH by Peter Kelly





Moving forward into 2021, some SME owners are developing growth plans with optimism. For ambitious management teams, the question of how to fund growth is key - debt or equity?


  expert funding support and advice


Management buy-ins and buy-outs Buying a business 


Get in touch today: 01254 679131


funding@pmm.co.uk www.pmm.co.uk @pmm_acc


There will often be little desire to dilute control to achieve growth and debt funding may be preferable. Funders can structure facilities to support growth  capital without onerous capital repayment structures.


Owners may have reservations about selling equity, but there are advantages. Private equity (PE) houses have a track record of supporting growth and could make an excellent partner.


They can provide the support needed to take a business to the next level and achieve its goals, potentially accelerating and improving management’s plans.


Whichever option; be investment ready. Have a clear vision for the funds and what you want to do. Understand your options and do your homework. Find the most appropriate funders to support your business, there are lots to choose from.


 ethos to your own, or a debt funder who matches your needs with a sensible repayment structure.


Plan for the process. A business plan detailing your vision and future performance will make it easier for an investment partner to ‘buy in’.


Get help from your advisers.  outcome will go a long way, and your accountant can help. It may not be a straightforward choice between ‘debt or equity’, but a mix of the two may give you the best result.


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