Updated: Aug 25
You started your business and you experience some success, your products or services are sold and everything runs smoothly. You have your customers and you want to expand your business. Maybe you need some help and you want to acquire staff. Or produce a new line, acquire premises, such as renting an office if you were working from home or simply need working capital.
Well, it comes a time when your business needs to grow and you may need funding in order to do so. Your sales are not enough for your expansion plan and to action your business goals. You do not really want to go to your bank for funding especially if you do not have an iron thigh business plan and marketing plan in place updated regularly with realistic targets. The bank might refuse you and you be looking at other avenues to fund your small business and grow.
"Hey, by the way, do you know that Girlfridayz can support you to complete these invaluable documents so you do not get refused a loan or grant."
Girlfridayz came across a funding organisation backed by the government especially giving loans to small business owners or firms in the UK or America.
Have you heard of Funding Circle?
What it is: Funding Circle is a peer-to-peer lending platform and they so far raised $150M from some of the world's leading investment groups. In one of the largest fundraising rounds by a British technology startup. It is an online marketplace which lends to small businesses in the UK and America.
How does it work: The system works in the following way small businesses can borrow directly from people and organisations, In a nutshell, small businesses can borrow directly from a wide range of investors including more than 40 000 people, the UK Government, Local Council and a University plus a number of financial organisations.
Their Vision: Is to revolutionise the outdated banking system and secure a better deal for everyone.
What they offer: They offer unsecured and secured loans where you can borrow from £5k to 1M and unsecured loans up to 250k. You get a flexible repayment term from 6 months to 5 years.
The benefits: No repayment fees and an offer to pay back early and you pay less.
How to apply: Online application and you get a decision in two working days
Where the fund comes from: The UK Government is lending £60 M to small businesses through Funding Circle alongside 1000 people and other investors.
You can invest in funding circle: If you have funds available you can invest in funding circles too.
I hope you find this post useful and you get the funding you may need to expand and grow your business in the near future.