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Business

5 good reasons to seek unsecured business finance

You have headed to the golf course following a day at work with a multitude of thoughts running through your head as you try to find the solution to a major concern regarding your own manufacturing business. Staffing is a bit of a problem at present, which you need to resolve.

Then there is the chance of sealing a good contract, but to do so you need some additional machinery in the factory. You know you have the skills available, but you have not got the cash to make the purchase. It’s time for you to source some unsecured business finance which will be invaluable for 5 good reasons.

  1. You know that the contract can make or break your business. You desperately need to seal the deal, as your staffing problems go back to your desperate cash flow situation which has seen confidence in you and the company plummet and employees departing to join other firms who they feel offer more security.
  2. Unsecured business finance will work for you as you only rent your factory premises and the equipment you do possess is nearing the end of its day. Unlike a mortgage you will not be required to provide property or collateral to secure a loan. Even your car is safe if anything should go wrong.
  3. While you will pay a slightly higher interest rate, that is not a problem against the huge positives of securing that contract that will be a game changer for you and your employees, as confidence will grow. You are aware that legal action will be taken against you should you default on repayments, but the thought of letting anyone down would never enter your head.
  4. The finance you like is a signature loan, which is as easy as its title suggests. You would simply secure the finance by signing an agreement that you promise to pay back the money. If you can somehow get your work contract signed before your finance application you may get a better deal from your provider.
  5. You do have a record in the past of bad credit, but this will by no means disqualifying you from receiving unsecured business finance, although you may have to shop around and speak to a specialist.

Unsecured business finance is the perfect way to kick start your company and give it the boost it requires to restore faith among employees and clients.

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