New Business Startup or business purchase
If you're a new business startup or looking to purchase an existing business J&J Commercial Finance can help obtain the necessary finance to support your new venture. There may be a need to buy a freehold property and many businesses will also need support with the purchase of the business goodwill, vehicles, stock and other key assets.
We provide access to the widest range of secured and unsecured finance facilities to help get you started and the possibility of acquiring regional grants dependent on your location.
- Commercial Mortgages to acquire a trading business
- Funding available to cover goodwill, fixtures & fittings and VAT bridging loans
- Secured Business Loans and Management Buy Outs (MBO) / Management Buy Ins (MBI) arrangements
- Equipment and Vehicle Leasing for assets valued from £2,000 upwards
- Invoice Factoring – Specialist schemes for new start and early stage businesses
We work closely with a number of partners supporting new startup businesses such as Finance for Enterprise and Business Enterprise Fund. By accessing the Government Start up loan scheme business with a detailed business plan and cash flow forecast could obtain unsecured funding over a 5 year period.
J&J Commercial Finance also work with specialist lenders that support businesses in their early stages of trading. Whilst the majority of lenders will look for 2 years trading history there are some lenders that are willing to lend to new startups with limited trading history
- Merchant Card Advances - If you accept card payments from your customers you may be able to access a Merchant Card Advance. This looks at you card transaction over a 3 or 6 month period and will allow for an average months takings to be advanced. The benefit of this is that repayments are made in line with your takings and will generally be a fixed percentage of taking through your merchant. If trade goes down your repayments go do, if trade improves you pay off the advance quicker
- Start up Loan Scheme - Aimed at new businesses under 2 years, owners can apply for up to £25k over a 5 year period, with a fixed interest rate. This is a government scheme and they will require a business plan and cash flow forecast. There are a number of providers of this scheme that can also support with the application.
Purchasing an existing business
If you're looking at purchasing a new business then we can create a bespoke lending package to enable the purchase to be achieved. Using the existing trading history of the business we can review the current asset base and see what additional lending could be release to support the purchase. This could include products such as
- Invoice Finance
- Asset Finance or Refinancing of physical assets
- Unsecured Business Loans
- Secured loans on company buildings
We will also work with the accountant and solicitor involved in the purchase to see if any deferment or goodwill could be applied to the transaction enable the total cost to be spread over a period of time.
To look at the options available book your free consultation today - we are happy to sign Non-Disclosure Agreements should they be required.