Business Finance help...

[Sarah Howard]

I have just had a call from my bank who have refused to renew my overdraft facility which my business relies on at various times in the year. Is there an alternative way of financing my business as this will have serious impacts on our chances of staying in business?

[Sarah Howard]

I have just had a call from my bank who have refused to renew my overdraft facility which my business relies on at various times in the year. Is there an alternative way of financing my business as this will have serious impacts on our chances of staying in business?

[temi]

Have you tried getting a personal overdraft which you can inturn lend to your business? that may be a quick fix

[BuckBennett]

I think you should achieve the balance between overdraft and revenue on your business. this is very important to you .

[hostsdepot]

Refinance properties and get some money to get profits from business.

If there is no profits, donot do that.

[webcreationuk]

Good informative post jessy, rep+ added, maybe this will help Sarah in solving her business' financial problems. :)

[DavidAmerland]

I have just had a call from my bank who have refused to renew my overdraft facility which my business relies on at various times in the year. Is there an alternative way of financing my business as this will have serious impacts on our chances of staying in business?

Sarah, you should talk to your local Citizens Advice Bureau (CAB) or Business Link (both will be in the Yellow Pages. UK business owners who are refused overdrafts are now getting the right of appeal against the decision.

[martinglover]

Its a credit crunch nightmare for a lot of people. It varies on everyone's situation and your type of business but I think you have a few options if the scenario suits:
-Overdraft
-Small business loan
-Sell a part of your business to an investor
-Remortgate your property and free up some equity
-Like the other folk said, CAB or independent financial advisor will give you your options.

There is always support somewhere so keep your head high as things are looking up in 2010 for the economy and the banks are going to start lending again.

[Snyder]

Thanks for sharing such an informative post with us..

[gyanendra]

Almost every business that has commercial accounts receivable can qualify. Factor Company is the direct financial service provider. Factoring is the financial transaction where by a business sells its account receivable to a third party at a discount exchange for immediate money.