Business Finance

No business can thrive without adequate financing, which serves as its vital support. Many small businesses struggle with insufficient capital to navigate through different stages of growth.

Navigating the vast landscape of financial providers can be challenging. Each offers various types of financing with different structures and repayment terms, making it difficult to find the best fit for your business. Novo Business Solutions is here to assist. When considering business finance options, it’s important to assess your capital needs, the urgency of funding, your eligibility for different types of funding, and your capacity for monthly repayments. These considerations will guide you to the most suitable financing choice for your business’s growth.

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Merchant Cash Advance

A merchant cash advance is a financing solution for businesses that process significant volumes of customer card payments. The amount you can borrow is determined by the value of the card payments you process at your business. Once funding is in place, every time you process a card payment, a percentage of the payment value is automatically used to repay the principal and interest on the sum owed. The amount you repay in a month depends on the value of the card payments you process. This type of funding can help businesses with season sales cycles, but there are many benefits and costs to a merchant cash advance and interest rates are usually higher than other types of financing. So if your business need any funding help or advise, Novo Business Solutions is the place to call.

Trade Finance

Trade Finance is a funding solution that helps importers and exporters to cover cash flow gaps and mitigate the risks involved with trading internationally. It can also be used for domestic trade, along with other solutions like supply chain finance. By using a third-party to finance a transaction, the supplier can be sure they will be paid once the goods are shipped, and the buyer has some protections to ensure they will receive the goods. Buyers can use trade finance to cover cash flow gaps waiting for shipments and use the funding to negotiate early payment and bulk buying discounts. Suppliers can release the money tied up in goods sold and speed up cash cycles.

Invoice Finance

Invoice Finance is a flexible funding solution that allows a business to turn its outstanding sales invoices into a source of readily available funding. Instead of waiting 30+ days for your customers to pay, you can use invoice finance to receive up to 95% of the invoice value as a cash advance. Unlike a bank loan, you don’t need to use your home as collateral. This type of funding is available to businesses that sell to other businesses and raise sales invoices for their goods and services.

Business Term loan

If you need to make a larger purchase, you might consider a business term loan, which is suited to businesses that might need a cash injection on a very occasional basis. This form of business finance is likely to require security. If you know how much you need to borrow, you might consider a business fixed rate loan, which gives you the certainty of fixed month payments. But if your cash flow is volatile you might opt for a business variable loan, as you may be able to reduce repayments if needed.

Business Overdraft

A business overdraft gives you access to cash to cover short term requirements, such as bridging the gap between service delivery and payment. An overdraft is usually unsecured but is likely to offer a cheaper interest rate than a credit card.

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Get In Touch

At Novo Business Solutions we have access to lenders and individuals who deal in private lending. So if you are either looking to borrow or know more about private funding, then contact us.