Small Loans from Direct Lenders
Small loans from a direct lender offer alternative methods to securing debt finance, as opposed to a bank, for example.
A good idea may be to perhaps take some time to sit down with one of investment team members here at Mercia, who are able to advise you on your business funding requirements and guide you in your next steps. Don’t forget, now is a good time to explore the Recovery Loan Scheme (RLS) that has been extended to support regional SMEs. The RLS offers an ensured commitment to helping small, but ambitious companies, flourish and grow into their full potential, whilst providing flexible finance options from a relationship lender at the same time.
The RLS is in place to provide aid to businesses, in terms of helping them not only recover, but continue to grow, despite both the recent and long-term effects of the Covid-19 global pandemic. This scheme is used to manage cashflow, investment and growth, in order to support businesses who are ready to take out financial loans to help them achieve these objectives.
You can visit Mercia to check if you are eligible for the RLS and explore other options if these better suit you.
The reason why more specialist lenders are becoming increasingly popular and rapidly progressing is because they are able to offer support in ways that traditional banks are not. This means lenders such as Mercia can approach growth strategies with not only cutting edge technology, but also with a robust management team who recognise your needs and how they change over time.
Unlike traditional banks, direct lenders often will not ask for financial security alone, but will seek out innovative business plans set out by owners with a drive to succeed. This makes direct lenders more attractive to small businesses in particular, who are looking to establish a trusted relationship with the people they are giving their money to.