So take it from me, Honest John, someone who has worked in the finance market for over 45 years: Don’t put all your eggs in one basket. If you need help restructuring your borrowing, call or email me.
So, what can you do? Well, it depends if this is just a short-term hiccup or a long-term bother. Whatever it is, you need to be upfront with your lender and explain your situation. Don’t be burying your head in the sand, it’ll only make things worse.
Right, so you're thinking about buying an investment property at auction but are worried about arranging the finance in time.
Your Invoice Finance provider's pulling a right fast one with your funding because of this "Concentration" malarkey. What’s all that about, then?
Let me explain.
Stock finance, in isolation, is not linked with a supply chain finance type of product, and it is both simple and complicated at the same time.
In simple terms, funders provide a loan against your stock holdings and take a charge over the stock as security. A finance limit will be set and move as stock is bought and sold The complications can arise when it comes to the type of stock to be funded..
You’re looking for a commercial finance broker? That's a good idea, but how do you know if they’re the real deal or just some chancer in a cheap suit? In this video, I break it down into five tips.
What is the best way to finance my business? That is a good question, but in reality, you might as well ask me, how long is a piece of string? This is because every business is different and each scenario within that business is different.
Why use a Broker instead of just going to the Bank? I get asked this question a lot, but I haven’t got all day, so I will try to keep it short.
Ask Honest John and I’ll do my best to provide answers in a way that makes sense. Expect straight talk, a bit of humour, and insights you won’t find in a Google search.