Whether it's to manage cash flow, seize growth opportunities, or cover unexpected expenses, SMEs often seek access to fast funding, which can be the difference between thriving and struggling. In fact, research shows that 82% of small businesses fail due to poor cash flow management. To avoid becoming part of this statistic, SMEs need funding solutions that are both fast and flexible.

Why SMEs need flexible funding solutions

Searching and applying for a business loan can sometimes be a lengthy process. But when it’s crunch time and your business is in need of funding almost immediately, quick and flexible funding is just what you need. 

Let’s have a look at a few reasons why SMEs might need fast, flexible loans:

  • Cash Flow Gaps: Seasonal businesses often experience fluctuations in revenue and need loans to maintain operations during slow periods.
  • Growth Opportunities: When a lucrative opportunity arises, having immediate access to capital can help businesses grow quickly.
  • Unforeseen Expenses: Equipment breakdowns or sudden changes in market conditions can create an urgent need for funds.

Without the ability to secure flexible funding, SMEs risk failing. According to the International Finance Corporation, the global financing gap for SMEs is around $5 trillion annually , highlighting the need for better access to finance.

If you’ve faced financial difficulties or been declined elsewhere, Bizcap is known to be one of the most open-minded lenders in the market. We’ve managed to fund more than 25 000 SMEs, that have previously been declined. We have you and your businesses best interests in mind.

Types of business loans available for SMEs

There are several loan options to choose from. Knowing the difference between all of them will allow you to make the best decision based on your needs. The types of loans include:

Loan Type Description
Unsecured business loans These loans do not require collateral and can be processed quickly, making them ideal for businesses that need fast access to cash. However, they come with higher interest rates.
Secured business loans While these loans require assets as collateral, they often come with more favourable terms, including lower interest rates.
Line of credit A line of credit gives SMEs ongoing access to funds as needed, allowing them to borrow and repay within a specified limit. This option provides flexibility to cover fluctuating cash flow needs.
Merchant cash advance A suitable option for retail businesses, this involves receiving an advance on future credit card sales. Repayments are typically tied to daily sales, making it a flexible option for companies with fluctuating revenues.
Bridging finance Bridging finance is a short-term loan designed to provide immediate funding while waiting for longer-term financing or the sale of an asset. It is commonly used by businesses to quickly access capital, ensuring smooth transitions between transactions or investments.

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Interested in applying for a business loan with Bizcap? Click here

Factors to consider when choosing a business loan

When you’re looking to decide on the best business loan for your needs, take into consideration the following key factors before making a decision. 

  • Repayment terms: The best loan for any SMEs is one with flexible repayment options. Look for loans that offer adjustable repayment terms, through shorter or longer loan periods.
  • Interest rates and fees: The cost of borrowing is a crucial factor to consider when applying for a business loan. Consider the rate that you are receiving and understand the impact it has on your repayments. 
  • Speed of approval: Time is often a critical factor for SMEs. Some lenders can approve loans within hours, while others may take weeks. Bizcap offers fast business loans where approvals can happen in just 3 hours from the time of your application.

Eligibility requirements: It's important to review eligibility criteria to ensure that you qualify for a business loan and avoid unnecessary application rejections.

Benefits of fast and flexible funding for SMEs

The key benefit of a fast and flexible business loan is the adaptability. Instead of being locked into rigid repayment terms or waiting weeks for approval, SMEs can tailor the loan to meet their specific needs. Flexible funding helps businesses immediately improve their cash flow, seize new growth opportunities and manage any unpredictable expenses that may arise throughout the year.

Fast and flexible funding is all about getting what you need, when you need it. By choosing a lender, like Bizcap, it allows for quicker processing and faster payouts, so that you can get access to the funding you need to continue business operations.

How to apply for fast and flexible business loans

At Bizcap we are committed to getting you the finance you need. In order to qualify for one of our fast business loans, you need to adhere to the following criteria:

  • Have an active company number
  • Be trading for a minimum of 4 months
  • Receive a minimum monthly revenue of £12,000

Click here to compare Bizcaps funding solutions.

Submit your application as follows:

  1. Application: Fill in our online application form that takes no longer than 5 minutes. 
  2. Assessment: Our team of loan specialists will read your application in just 3 hours and assess your loan needs.
  3. Funding: If our loan specialists approve your application, you will receive the funds directly into your account the same day. Your repayment plan will be tailored to suit your needs.

It really is just that simple to apply for a fast and flexible business loan. 

Choosing the best business loan for your SME comes down to understanding your business’s unique financial needs and finding a lender who can meet those requirements quickly and flexibly. Whether you opt for an unsecured loan, line of credit, or invoice financing, make sure to evaluate the terms, interest rates, and repayment schedules carefully. If you're looking for fast and flexible funding options, Bizcap is your number one choice to ensure you’re getting the best deal for your business.

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