When your company is weighing up options for business finance, there are several things to consider.
To get some guidance, you might ask friends who have borrowing experience, check out Equated Monthly Instalment (EMI) calculators or compare online finance providers. At Nationwide Corporate Finance, we aim to be transparent and help you find the perfect business finance deal to give you peace of mind and let you focus on building your business.
The basics: Protect your Credit Score
Nationwide Finance doesn’t use credit rating agencies, because too many hard queries can damage our customers credit score, we would rather help our clients avoid that. Check with providers whether they do this first, before applying.
But, as long as you only apply for finance your company is eligible for, your credit rating will improve. At Nationwide, we can offer advice and support in applying for the right finance agreement to protect you from anything that could damage credit scores.
It is essential only to consider business finance that your company can service easily.
It is important to calculate repayments accurately, with Equated Monthly Installments. If you don’t calculate your EMIs correctly, you could end up with finance you could repay, but EMI payments that are out of your reach.
For example, you may apply for Finance that you can comfortably repay over 12 months but erroneously pick an eight-month EMI schedule which would stretch your resources and could lead to missed payments, wasting the benefits of your finance. Our experienced, skilled advisers can assist you in ensuring this doesn’t happen with your application.
Banks are a popular source of small and medium business finance, but business lending institutions can be better for acquiring working capital finance. Choosing a financial company like Nationwide Corporate Finance can yield various benefits, including lower processing fees, shorter turnaround times and easy renewals of business finance terms.
Repayments with flexibility
Business finance that comes with the option of flexibility for the payment schedule can be helpful for applicants. If your commercial partner allows you to choose between a range of repayment schedules, you get the freedom to keep the focus on developing your business, rather than making payment deadlines.
A business opts for finance to invest in growth, so to be successful, you must select the right business financing option for your company. There are many tools available online to help you analyse and compare the borrowing options at your disposal so that you can make an informed decision.
If you select the right partner, your business can experience exponential growth. To find out more, why not get in touch with Nationwide Corporate Finance today?