SMEs face a constantly changing marketplace when it comes to raising commercial finance. With banks lacking the appetite to lend, or constantly changing their credit policies, there has never been a more confusing time for business owners.
Computer Says No
The historic performance of some businesses has also restricted the funding solutions available. The age of the “computer says no”, combined with key decision makers lacking the required knowledge or experience, has added to the confusion for SMEs. It is not unusual for lenders to take weeks for a decision, only for the business to be told ‘no’. Many businesses that have battled through the last six years enjoying the highs and lows are now looking for opportunities and growth.
Access to Quick Lending Decisions
Business First Network has joined forces with Reparo Finance to provide its members with quick lending decisions to support growth or help with unforeseen bills. Reparo provides loans of up to 24 months depending on the requirements of the business, in any situation. They have provided solutions to a range of sectors including; manufacturing, construction, haulage, printing, agriculture, engineering, retail and professional services to name a few.
Reparo will lend from £5,000 to £1,000,000 and typically look for security for loans over £50,000, with smaller loans provided via their ‘Fast Track’ product.
Each SME is looked at on its own merits and underwritten using a commercial approach. Reparo has an experienced team that can assist with any business whether it’s early stage, experiencing growth or even struggling with cash flow pressures.
Reparo can provide decisions quickly after a simple application process. Clients are able to talk to a member of staff throughout the whole application process and have a designated manager if they are successful.
Business First Network Members that are thinking of raising finance, or have an immediate need for some assistance, can contact their local Business First Network consultant who will happily introduce them to the Reparo Finance team.