Small Business Loans

on the rebuildingsociety.com blog

Fast access to small business loans is important for the economy, read how we connect businesses with local investors who help with more than just funding.

10th Jun, 2019

Consolidate Debt for Business Growth

Growing a business is hard work. As you grow, you’re likely to need to access various forms of funding from equity to trade finance to loans to credit cards. Business loans are a great way to finance your business whilst maintaining control of your business. However, over time many businesses find that they they’ve taken out numerous loans or finance options and ensuring that monthly repayments are made on time, to many different providers, can become time consuming and expensive. 

Debt consolidation is a good way to restructure or simplify your financial arrangements for your business. This will help you improve your cashflow and reduce costs. If your business has numerous loans with different banks, a number of credit cards and other monthly debts, you should consider consolidating these into one easy to understand, easy to manage finance arrangement.

 Why consolidate business debts?

The long and short of it is – it’ll save you time, money and probably a few grey hairs!

A single repayment

Many will become one. If you completely consolidate your debt, you’ll only need to worry about one repayment a month, to one provider at a single rate. You can then match the timing of the repayment to best suit the cashflow needs of your business.

Reduced costs

If you have different finance options with different providers, you’ll probably be paying administrative charges to each of them, overdraft fees to Barclays, credit card fees to Lloyds, the list goes on. You’re also more likely to be paying higher rates of interest thank you can get elsewhere.

If you’ve taken out short term loans to support cashflow at one point or another and haven’t repaid those quickly, you’ll be paying much higher rates than if you repaid it and replaced it with a longer-term lower rate of interest loan.

Choosing one finance provider and using them over an extended period of time will help you improve your credit score with the provider, likely resulting in lower rates on future borrowing.

Improve Cashflow

Longer term loans often have smaller, more manageable monthly repayments than short term loans at high rates. Reducing the monthly outgoings in your business, will help you grow other areas of your business.

Is a debt consolidation loan right for your business?

If you have managed to grow your business or improve your credit score since taking out the original debt, you may be able to get a larger loan, at a lower rate over a longer term.

Signs you might be ready to consolidate debt:

  • Your business has grown
  • Your personal credit score has improved
  • Your business credit score has improved

More reasons you might need a business loan.

What to consider?

Before choosing to consolidate your debts, you should make sure that it is definitely right for your business and your plans for the business.

Cashflow or cost?

Think about why you’re trying to consolidate the loan? Is it to improve monthly cashflow or cost of the finance?

Consolidation does not always mean cheaper finance. If you consolidate your debts into a single long term loan you might be reducing your monthly repayments, meaning more cash in the business, but the rates might be slightly higher, costing you more over all.

Fees

When taking out a consolidation loan you’re likely to be charged an arrangement fee at the start of the loan. Make sure that you’ve considered the cost of the fee and whether it is right for your business at the time.

Early redemption options

Always make sure that you’re aware about whether you’ll be allowed to repay the loan early, and whether you’ll be penalised for doing so.

Business Debt Consolidation at rebuildingsociety.com

We’ve worked with many businesses that have come to us to consolidate their existing debts. When you take a loan with rebuildingsociety.com we’ll work closely with you to ensure that he loan you’re considering is right for your business. At rebuildingsociety.com’s you can consolidate or refinance loans that you already have with us or consolidate debts you have elsewhere.

The Benefits of a consolidation loan with rebuildingsociety.com

  1. No early repayment charges
  2. 6-60 month loan terms to suit you
  3. Single arrangement fee – no monthly costs
  4. We’ll settle existing debts directly with other providers on your behalf

Regardless of the reason for your loan with us, you can be sure that we’ll always consider your business on its merits and work closely with you to ensure the finance is right for you and your business. You’ll speak to real people that understand business and finance.

How to prepare your business for a loan.

You can apply for a business consolidation loan on our platform in under 5 minutes. If you’d like to speak to one of our team first simply contact us on any of the below options.

Phone: 0333 303 0972

Email: apps@rebuildingsociety.com

It was a pleasure to work with the team as we felt they took a pro active approach to our request for funding rather than the current lending criteria by many of the banking institutions who operate via a tick box and computer system.
The dialogue between ourselves and the team at ReBS has always been convivial and the out comes were of a positive nature.
” – Gary – SME Business Owner

13th Mar, 2019

An expansive approach from Afterthought

It’s always interesting to connect with business people with an eye for opportunity. A few words with Doug from Afterthought…

Hi Doug, how would you describe your approach to business?

My background is primarily IT consulting. I spent about 18 years working in the US with small stints in Hong Kong. My jobs allowed me to travel extensively and I think that helped with some of the input on our gin and coffee flavours and designs. I’m fairly hands-on, making sure that standards and values are followed and have built a great team of around 35 people across all of the businesses that continue to make Afterthought a success.

You seem to have quite a range of businesses, from technology consultancy to coffee shops… what’s the thinking behind this?

We started out as and IT consulting firm and decided to diversify into other businesses, we spotted a coffee shop for sale and it’s been expanding ever since!

The Gin Story … how did that begin?

As for the gin, I started drinking it about 7 years ago and settled on Bombay Sapphire and orange juice. About 2 years ago I toured their distillery and thought to myself I can make this and add some flair to it.

What’s the market like for Gin these days? Seems to me it’s quite experimental, I’ve seen Sheffield Gin in a local wine bar. Are you looking to provide direct to drinkers, or to bars as well?

We are aiming for about 80% export markets as there are already quite a few local gins in the UK. So far we have created and released 4 gins including American, European and London dry gins. 

Do you need a license to make Gin? What’s the score with the law?

So to get a license to make gin you have to have already made gin, kind of a catch 22.  Luckily for us we worked with a distillery in Devon to create our recipes and first batches in order to get our own licenses which were recently granted.

What other horizontals are you exploring for the future?

We are moving our smallest coffee shop site to a much larger building that will also house the front of our gin distillery, this allows us to host a gin retail section, a gin school and evening events. Next year we are adding a much larger European style cafe which will incorporate our gin, coffee and soon to be added pizza business in a new Burgess Hill revitalization project.

Thank you Doug, all the very best, a toast to your ongoing success.

View the borrowing application here.


01st Mar, 2019

Athena Catering Solution provided by Le Bureau Limited.

In industrial environment such as hospital and prisons, prisoners and patients need to be provided with nutritional meals. Prisoners need to be provided with five main options and sides and sweet options. Patients also need to be offered nutritional meal options.

Prior to presenting menu options to prisoners and patients, Athena our catering solution provides dietitians and catering staff with the ability to build model recipes and menus. Model recipes are defined in terms of their caloric, fats, proteins, vitamins, minerals, allergens, consumer acceptance, etc.  There are some forty elements that need to be considered in the analysis, including special menus to meet dietary conditions, vegetarians, vegans, allergen free, etc. 

Athena uniquely provides the facility to measure recipes and menus at the planning, preparation and serving stages.  

The issue that Athena addresses is that as ingredient suppliers and ingredients change, cooking methods change in recipes, athena provides an accurate measure as to how production recipes and menus meet model recipes. Hence alerting staff if the recipe and menus do not meet standards.

Athena can also determine at production level which recipe from a range of recipes meets the model recipes.  

Menus are presented to patients and prisoners with complete nutritional and allergen details so informed decisions can be met.

Meals in prisons are normally selected by prisoners two weeks in advance providing time for ordering and preparation. In a hospital same day selection, preparation and service occurs.

Athena uniquely provides several options for obtaining meal selections from prisoners and patients: paper and scan menus, tablet computers, smart phones (Bring Your Own Device), computers on wards.

Once the menu numbers have been collated:  meals are prepared, purchasing takes place, inventory pick and pack lists prepared, meal severed, receipting good in, etc. 

Athena provides a consolidated system that meets the needs of the whole catering process. From inventory control, recipe maintenance, menu planning, meals selection, meal preparation, serving meals, health and safety, cost control and purchasing. Athena provides a ful range of management reports and financial operational reports to monitor the catering operation.

The real beauty of the system is that it can be implemented in Schools, Colleges, Hospitals, Care Homes, Prisons, etc. it is a system which is highly functional, but can be adapted to any environment. The system architecture has been designed to meet individual client’s needs.  

The solution provided by Athena can also be extended to schools and colleges, home cares and chains of restaurants. Visit our lending application here:


06th Nov, 2018

Festive Preparation for Your Business

With the Bonfire smoke clearing and the sound of fireworks still ringing, in our ears many people now turn to Christmas preparation and celebrations. Whilst the upcoming festive season brings with it plenty of fun and reasons for celebrations, it is often a challenging time for business owners, particularly if planning hasn’t been done to ensure business continues as normal through this disruptive period.

We’ve put together a list of tips to help you ensure that you make the necessary arrangements to avoid disruption to service or unexpected issues during the festive period and to ensure that you set your business up for the best possible start to 2019!
(more…)


23rd Nov, 2016

The A-E of Reasons to Take a Business Loan

 Net worthAsset Purchase

Assets can often be purchased through a hire purchase agreement, but where this option is unavailable a business loan can fill the funding gap and allow you to spread the cost of potentially expensive equipment.  In some instances the asset can act as security for the loan which will somewhat reduce the risk.

In 2015 more than £29 billion in finance was provided by members of the The Finance & Leasing Association to assist with asset purchases.  This figure is further boosted by the work being carried out by the Peer-to-Peer funders who offer an alternative route to finance outside of the traditional sources.
(more…)


26th Feb, 2016

Concept Automotive is in the Fast Lane to Growth

Popular automotive leasing company Concept has come to rebuildingsociety.com to pursue its next round of growth and improvements.

Paul Bulloch launched this venture 12 years ago because he was ready to step out on his own after many years as a businessman. As his business continues to grow, he proves the automotive industry is in his blood.
(more…)


01st Feb, 2016

Packing Company Hopes to Wrap up Their Marketing with a P2P Loan

Hull Boxes & Packaging has been in operations for 2.5 years and its director Richard Britton hopes a successful loan application at rebuildingsociety.com will help the company seize a growth opportunity with a new marketing campaign.

Hull is a family owned and independent business, and Britton says his friendly and hard-working personality shines through in the ethics of the company. He grew up in the packaging industry and is dedicated to providing a positive customer experience.
(more…)


20th Jan, 2016

Finance firm Seeks New Income Stream

An exciting new application from One Stop Business Finance Limited breaks new ground for the company and for the rebuildingsociety platform.

OSBF is a business finance brokerage that primarily provides loans to those who have been refused credit by banks. They tailor financial solutions to each client’s needs and plan to add this loan from rebuildingsociety to a robust portfolio of loans from High Net Worth Individuals that maintain the cashflow of the business’s own book lending.

In the 18 months since incorporating, no client has defaulted on a loan from OSBF. Though this loan doesn’t have a personal guarantee (more on that in the profile), managing director Andrew Mackenzie is confident that he has a secure loan on offer. Alongside the security OSBF holds through its loan book, it is also offering a first ranking holding company debenture.

“To date we have lent £1,048k over eleven transactions with all loans fully secured by company debenture and directors personal guarantee as a minimum. Our financial projections for the current financial year show sales of £250k with a PBT of £51k. As this sales value is 73% covered with current order book (with six months to go) it is considered prudent. Next year turnover will increase to £410k and profit to £89k. It goes without saying, therefore, that this first rebuildingsociety loan is fully serviced from business cash flow.”

A Responsible Model

“Our model seeks to be entirely responsible in our lending, is client focused, thinks long term and as one client said ‘provides the customer service the banks say they will.'”

Lenders have transactions that last as few as six weeks and can take out loans for a maximum of 18 months. Every loan is secured by debenture and director’s personal guarantee and includes flexible terms that match the needs of each client.

This bespoke approach ensures that each investor is getting a strong return on their investment through OSBF.

A Unique Partnership

OSBF chose to work with rebuildingsociety in order to drive down borrowing costs in the long term, and in the short term it will allow them to expand the types of investors who can access their services to include more than just HNWs. A diversified income stream reduces risk to lenders and borrowers. And, for OSBF, P2P offers a chance to break new ground in the corporate short term lending world. Mackenzie believes OSBF is the first company of its kind to work with a peer-to-peer lender.

The relationship between OSBF and rebs comes naturally, as they are local to each other.

“When we first met Rebuilding Society last April we were very impressed. There are many similarities in our business philosophies. It seems a very comfortable and obvious business relationship.”

Please review One Stop Business Finance application page for more information and a robust community discussion.


12th Feb, 2015

Five reasons for getting a business loan through rebuildingsociety

We know we’re new. We’re also in a new industry and things are done a little differently to other finance providers.

Nick Newton and Rick Hyland are on hand to guide you through the process

But we still believe we’ve got a great product that is suitable for businesses of all sizes, sectors and locations across the UK. Here are some of our best features:

1. We’ll listen to you and guide you through the application process. Our business development team (Rick Hyland and Nick Newton) will be on hand to take your calls and emails to keep you posted on progress, while our underwriting and legal team will work hard to get you through the loan preparation and completion stage with minimal fuss. After all, you’ve got a business to run.

2. We’ll be realistic about your progress. If we don’t think we can help you this time round, we’ll tell you ASAP. But we’ll try to point you to places that can help as that’s part of our ethos of building lasting relationships. When we can help you in the future, it would be great to do so.

3. We’ll tell your story. When you’re looking to tell potential investors about your company history to help them gauge whether to lend to you, we’re on hand to write features about the business to get your character across. Similarly, when it finishes and you’ve got a good news story about securing a loan for growth, we’ll help you write that and distribute it.

(more…)


28th Jan, 2015

Business Confidence at a Three-Year High – Now is the Time to Capitalise

As the first month of 2015 draws to a close, UK businesses are increasingly optimistic about the year ahead. A handful of surveys have pointed towards confidence in the British economy stemming from improving labour markets and falling inflation, indicative of a positive economic outlook. Here’s a summary of why business owners should look favourably on 2015 and gear up for growth.

Increasing sales and profits

A poll by accountancy group Grant Thornton revealed the UK was one of the most optimistic economies in the final quarter of 2014, with 68 percent of executives admitting confidence for the coming year. A survey of 1,500 businesses by Lloyds Banking Group reported that 43 percent of companies expect an increase in sales, orders and profits in the first half of 2015. Confidence has been reinforced by news that the UK’s economy grew by 2.6 percent in 2014, the fastest pace since 2007.  (more…)


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