Whether you are a pub, bar, restaurant or hotel, many traditional lenders, such as the bank, see much of the hospitality sector as high risk. This high risk results in many applications from this sector being declined through traditional funding avenues.
However, over the last few years there have been many new lenders that are specializing in the hospitality sector, allowing business owners to keep up with current trends through a direct line of credit. Before these lenders entered into the market, more traditional financiers were looking for business plans and a long trading history to determine they are good risk.
These new lenders that have entered into the market are more flexible in the way their underwriting process works. Instead of looking for business plans and a long established trading history, they are looking for businesses that have the ability to generate healthy revenues and maintain growth. To qualify for funding you only have to be trading for a few months, and take a minimum of £2,500 in monthly sales.
Whether you are looking to;
- Purchase new equipment
- Expand the business
- Open up a new location
- Marketing campaigns
- Ease cash flow through seasonal decreases
Aurora Capital can assist to identify the right funder for your business.
The application process is very simple, and funding can be in your bank account within 2 weeks. Due to funds being unrestricted, the capital can go towards any business expenditure, or even for working capital to ease cash flow problems over tricky periods. Unlike traditional bank loans where bricks and mortar are used to secure the loan, there are no fixed charges put over assets, just a PG needing be to signed.
If you believe an injection of capital could enable your business to grow in the next 6-12 months, why not give us a call on 01371 870 815 to see how we can help.