Poor Credit Business Loan

How To Get A Business Loan With Bad Credit

Poor Personal Credit

So, what happens if you have poor personal credit because of things which have happened in the past. Is this a deal breaker when applying for a business loan?


Previous credit difficulties will show on your credit file for a set period of time. Defaults from simple phone or utility bills will show. They will however elapse and therefore improve as time moves forward. A business loan provider will assess every loan application. When you have an average or below-average personal credit score, this makes up an overarching credit risk profile.


Therefore, it isn’t the end of the world if your credit isn’t great. It will make a proportion of the credit application; however, many different aspects are reviewed by the underwriting team. The trading history and assets of the business will be imperative to assessing a business loan amount and the affordability of repaying the loan, This is because all lending should be responsible.


How Do I Improve My Personal Credit?


Ways in which you can improve your personal credit can be as basic as ensuring you are registered on the electoral roll at the correct residential address. Also, if the credit file is showing something that is incorrect or being disputed, get this resolved before applying. Having a clear explanation of the reasons for any defaults along with evidence to demonstrate your argument is vitally important. It will allow us, the finance broker, to strengthen your business loan application. As previously mentioned, the personal credit of the directors or majority shareholders is one piece of a business loan application.


You can check your credit using this link here. This will cross-reference multiple credit agencies to pick up on any discrepancies.


Business Credit


As you may be already aware business credit from the outset is crucial when looking to raise finance. This could be asset finance on a vehicle, a business loan for cash flow, or a commercial mortgage on a property. Whatever the finance requirement a lender will be reviewing your businesses credit. Simple ways of keeping your business credit healthy can are staying out or within your overdraft, paying suppliers on time, and having good performing financial year-end accounts. Credit agencies will pick up on these factors and pull them together to make an overall score from 0 to 100.


It can work in your favor when winning new contracts, working with new suppliers, or taking on larger orders. Having a quick cursory check at a business’s credit will give you the power of deciding if they are credit-worthy. It could be the difference between you taking on bad debt or staying profitable.


Quick And Simple Ways to Improve Business Credit


  • Check your businesses credit score regularly to ensure the information credit agencies hold is correct
  • Personal financial scores will affect the business’s overall credit rating. Keep your personal finance under control.
  • Should your business’s details change because you have moved offices ensure all registered and trading addresses are correct. This can take less than 10 minutes
  • Don’t apply for business finance on an Adhoc basis. Use a commercial finance broker such as ourselves. We will only approach the most suitable lenders, reducing the number of credit searches
  • Have good working relations with any creditors and pay invoices once they are due. Aged debt and slow payments can really hinder your credit score



Information Required When Applying for A Business Loan


Your business may be ready to apply for a business loan for business growth, cash-flow funding, or business acquisition. Whatever the reason you are probably now reading this because you are thinking about applying for a business loan and want to know more about the process.

It can be very straightforward if you are organised. Having the information accessible will reduce the decision-making time of the loan provider. If your business has a trading history then brilliant. If you are a new start most of the information will be similar You can contact a commercial finance broker to find out more.


  • Most recent annual accounts
  • Last 9 months business bank statements
  • Business Plan
  • Cash Flow Forecast
  • Last 4 quarters VAT returns
  • A clear requirement for funding and use of business loan


We can talk through the relevant information and why the lender requires this. Don’t panic if you don’t have all the above. We can work with you to tailor what works. The term of the loan and the rate will depend on your individual business funding requirement.


Positive Business Cash Flow

4 Tips on Maintaining Positive Business Cash Flow


​Whether you have an established business in Bristol, England, or any other part of the world, the long-term success of any company relies on one thing: Cash Flow. Proper metrics and figures are essential in any business to calculate the cash flow, and irrespective of how much money you’re earning per month, maintaining a healthy and positive cash flow is crucial. Now the question is, ‘How to sustain it and what do you need to do for that?’ Here’s the answer.

Monitor the Cash Flow Permanently


How do you check your business’ cash flow? How often? Monitoring it weekly is excellent, but if you do so daily, it’s even better as it helps you track your financial information efficiently. Moreover, you can use accounting software or hire an accountant to make the process simpler, generate quality reports, reconcile your accounts, handle your taxes, and so on.


Consider working with a freelance accountant as it will help you avoid taxes, and even though they may not be from Bristol, England, or nearby areas, they can handle your system online. Per Accountancy Age, you can expect an accountant to charge around £35 per hour per hour, although the cost can differ based on their expertise, skill, and how much work they need to do. Another option – if your business is in a tight spot – is working with a company specializing in cash flow finance facilities like Pinnacle Business Finance to secure funding.

Get Your Invoicing and Scheduling Right


Your clients may not pay you on time if you send them inaccurate invoices, and it makes a poor impression. Ultimately, this will negatively affect your cash flow. Ensure that all the necessary data on your invoices is correct, add a pricing breakdown, and make sure that you include all your payment details so your clients can pay you. This saves a lot of time, numerous questions, and fixing mistakes, and ensures that you have the money in your bank account as soon as possible.


​In addition, it’s essential to ensure you discuss the payment details early on when you sign a new client. Numerous entrepreneurs usually forget this due to the excitement of landing a new client and then waste precious time sorting it out later. Agree upon a payment date or make sure that the client knows when they have to pay.


Similarly, when staff are distracted by scheduling concerns, they won’t perform well for you. Many businesses in Bristol and beyond find permission-based shift scheduling is a winning strategy, as it allows for creating and publishing schedules quickly and cleanly while on the run. With popular software options like Quickbooks, you can take advantage of drag-and-drop capabilities, and you can control who can make changes and assign shifts. It’s a simple way to maintain morale and productivity, all in one fell swoop.


Clear Debts in Time


As Prowess recommends, it’s wise to try to pay off your debts as soon as possible to avoid the piling on of dues. Many businesses find it advantageous to address smaller debts first, as they are always easier to eliminate than larger ones. You can also offer discounts to those suppliers or vendors who pay their bills in time to encourage cash flow. Keeping that strategy in mind, charge a fixed rate to those who keep delaying payments, and for this process to work seamlessly, establish payment arrangements with your dealers and suppliers in advance.


Focus on Profit-Making


Small businesses are prone to suffer losses in the beginning. Still, after a certain point, those losses need to slowly convert to profits to keep the company running. There are two different ways to tackle this.


First, you can raise the rates of your most popular and best-selling products by a small margin in a way that doesn’t impact your customer’s purchase patterns but also leads to an enhanced cash flow. Second, you can stop the manufacturing process of the products that cost too much to set up if they don’t generate much money.

In a Nutshell


A positive and healthy cash flow is more vital than anything involving a business. Keeping an eye on your cash flow is also a key to your company’s success – a few mistakes or missteps in this area can put you in a money pit. Should you worry? No, because these tips can help you maintain a healthy cash flow, leading to your business expansion and success.


Pinnacle Business Finance focuses on business loans, invoice finance, card machines, and other commercial finance alternatives. The team is based in Bristol, England, and offers a first free consultation, so make sure to contact it if your business needs any of these services.


unsecured business loans bristol

Looking For A SME Unsecured Business Loan in Bristol?

What is an unsecured business loan in Bristol?


With over 50,000 businesses trading in and around Bristol, having the access to business loans is vital. This is because it allows you the business owner to thrive and flourish with new business ideas. Bristol is one of the most historic places in the UK for trade finance. Now in more recent years, it has become a hive for SME businesses. However, it still can be daunting to know where to look for a business loan. Especially if your bank has either declined or not been there to support you. Being a non-homeowner looking for a business loan in Bristol and the UK can be a tricky task.

Why is this I hear you ask? It’s when a lender is assessing the business, they take into consideration who ultimately has the responsibility for that business and the individuals behind it. So, if the business owner or shareholder has no assets then it makes the lend riskier. The good news is though yes, it’s still possible to get an unsecured business loan in Bristol whether you are a homeowner or not. Obviously as previously mentioned if you are a homeowner that will stand you in great stead.


 Unsecured business loans in Bristol v secured loans.


What a cracking question; unsecured versus a secured business loan in Bristol. In recent months with Covid-19 funding being in place by the Government with bounce back loans, CBILS loans, and recovery loans, business owners have become accustomed to providing little to no security. Simply securing the loan against the business depending on the value of the loan. Outside of government funding more traditional forms of business loans in Bristol are still readily available. An unsecured business loan in Bristol for the SME owner can be fully unsecured for the well-established, profitable, and financially excellent business. The lender will credit underwrite the business loan backed purely against the business.

For the start-up and SME business in Bristol then an unsecured loan with a personal guarantee from the directors and or shareholders will be taken. Commonly these loans are short-term business loans designed to speed up the business’s growth. Both homeowners and non-homeowners will be eligible for this loan. Secured business loans in Bristol carry a longer-term up to 10 years and can allow the business to access higher levels of funding. The security will vary dependent on the lender. It can give your business the opportunity to access commercial finance in Bristol.



Looking for an unsecured business loan in Bristol?


When looking for an unsecured business loan in Bristol, Pinnacle has access to the whole market as a commercial finance broker. We are all agnostic finance brokers in Bristol. This means we don’t hold preferential treatment to any lender. We tailor the unsecured business loan or alternative finance facility to your individual requirement. We have specialists who are well experienced in the chosen field of commercial finance. Then find the unsecured business loan in Bristol that suits your needs. It may be that you are looking for short-term cash-flow funding in Bristol. Then we can find you a business loan that has no early repayment fees. The options available to you the business owner in Bristol are vast. This is why we assess each individual business on its own merit and tailor the business loan to the requirement. We are well-experienced brokers and always happy to talk.


How much will an unsecured business loan cost?


The million-dollar question of how much an unsecured business loan will cost. The straight answer is it will depend on multiple factors when underwriting a business loan application. A new start business looking for a start-up loan for example will be very different from an established SME with high levels of turnover and profitability. So, to answer to give exact figures on this would be unfair without assessing the business. However, the brokers at Pinnacle can assess your business and come back in under 24 hours with indicative costings and quotes. Getting the financial information and if you are a new start business looking for funding then a clear business plan ready is key. It speeds up the process and allows you to get the best business loan possible.



How do you get an unsecured business loan?


An unsecured loan is more straightforward than a secured loan. It commonly has more flexibility and is over a shorter term than a secured loan. Having your business information ready and up to date is very important when applying for a business loan. One of our finance brokers will run through your business to determine what the most suitable form of finance is for your business. Commonly unsecured business loans carry higher interest rates with greater flexibility and less security. Unlike a secured business loan, no charge is taken over the property.

This is a positive for you as the borrower. It reduces the risk of the business loan. Having no early repayment fees on the business loan is very attractive. The aim of the business loan is to invest, grow turnover levels and improve profitability. This will allow you to satisfy the business loan in the shortest time frame possible. Reducing interest charges. If you would like to find out what unsecured business loans are available you find out more.

Business Loan In Bristol

Where to Go When Looking for A Business Loan in Bristol

How Does My Business Qualify For A Business Loan In Bristol And The Wider UK?

You may have a new start business in Bristol and require an unsecured business loan. Either way, you can still qualify for a business loan. Business loans in Bristol and across the UK are a common way of securing commercial finance. It is one of the most popular ways to fund a business because business owners are familiar with how a loan works. However, we know that it can feel daunting knowing where to start. Especially when wondering if you qualify for a business loan.

The good news is Pinnacle Finance in Bristol are here for you. Start-up business loans are accessible through Pinnacle Finance along with un-secured business loans, secured business loans, and alternative business finance in Bristol. So, one of the main fundamentals of any business loan in Bristol is how you are going to use the funding. This demonstrates to us and the lenders that you have a clear vision of how the business loan will be used. You may have been trading for 10, 20 30 years plus but having projections that include the business loan is always key.

Where Do I Get A Quick Business Loan in Bristol?

If you haven’t already guessed, it … Pinnacle Business Finance in Bristol is the place to go! We have the whole of the alternative and mainstream high street financiers available for you. We compare the commercial finance market, saving you time and money. Whilst adding that all-important market knowledge. Whether you are a business based here in Bristol, Cardiff the South West or the wider UK, then we can help you. Market research shows that business owners apply for a business loan only 3 days prior to the requirement for funding. So, a quick and easy business loan in Bristol is a must. We collate the paperwork at the start of your funding journey to speed up the process. You can get a quick business loan in Bristol on the same day. To achieve this, make sure you have your business financials accessible.

  These include 

Business bank statements
Business plan
Annual accounts if you have them
All directors or shareholders information

Don’t panic if you don’t have annual accounts as there are plenty of lenders who don’t require this. One of the finance brokers at Pinnacle will work with you and collate this information. Making the process quick and easy. To allow you to continue to run your business whilst we secure that all-important business loan.

How Much Will A Business Loan Cost?

Wow, the most common question in commercial finance. How much does a business loan cost in Bristol or the UK? Well that all depends on your business and what you are looking for. Gone are the days of walking into a bank manager and getting a business loan. That is for good reason. Since 2008 a wealth of alternative lenders has been there to support start-ups and the SME marketplace. Each bringing a fresh and unique business finance offering. Some loans can be short term business loans up to 12 months with no early repayment fees. Others can be of 10 years with a fixed term. Some can be in between over a fixed term, interest-only periods, and have little to no security given.

Potentially an unsecured business loan in Bristol might be an option. Clearly, each business loan in Bristol and across the UK will bring its own individual interest rate. One very important factor is how the interest is applied. The finance broker at Pinnacle will explain the difference between the flat interest rate and amortizing interest rate. In short, avoid flat interest rates at all costs as this will work out more expensive.

How Can Pinnacle Finance Find Me A Business Loan in Bristol?

What a brilliant question and one we love to get asked at Pinnacle Finance. We are your one-stop-shop for all things business loans in Bristol and across the UK. We have expert market knowledge when it comes to business loans. Especially for ambitious, growing businesses. Keeping cash-flow strong and having the financial backing to grow is imperative. We know how difficult it can be to run a business. How time-consuming and overwhelming it feels when looking for a business loan in Bristol.
That is one of the many reasons why Pinnacle formed in Bristol back in 2018. We will give you the time back to focus on your business. Whilst we do all the hard work for you and secure the best business loan in Bristol. Listening to what your business needs and wants from the business loan. Then tailoring the business loan in Bristol to your individual ambitions. Oh and of course getting the cheapest business loan possible for you.

Fast Business Loans Bristol

Looking For A Cheap and Fast Bristol Business Loan?

Fast and Cheap business loans in Bristol


If you’re looking for a fast and cheap business loan in Bristol it can be difficult to know where to start. Especially when looking for a business loan that is quick and easy to secure. Traditionally business owners would have gone to the bank manager to source a business loan. Subsequently, time has moved on and now many business owners don’t even know who their bank manager is. Let alone ask for a business loan to fund their business in Bristol. Traditional bank loans in Bristol can be time-consuming. With in-depth information required often a business owner not having available. Fortunately, since the 2008 credit crisis, the rise of alternative lenders has grown to fill the void for small to medium-sized businesses looking for business loans.

The information required for a small business loan is very light. Often bank statements and any annual accounts are enough to satisfy the lender. Therefore, the business loan can be released in under 24 hours. Making the business loan in Bristol quick and easy for Pinnacle Finance to secure for you. There are over 50,000 businesses in Bristol which makes it a vibrant and successful city for businesses. Having a business loan that is going to give the business financial backing to grow and support cash-flow is imperative. However, not all business loans in Bristol are the same.


How quickly can I get a business loan in Bristol?


Being a business owner, time is one of the most important aspects of a busy diary. So, knowing what information to have to apply for a business loan is what you need to know. Also, the time it will take. Using a commercial finance broker like ourselves we will manage the process for you. Whilst stating how long the process will take from start to finish. Pinnacle Finance collate the required information upfront from you. Then package and send the application to the select lenders. The process on average will take 2-3 working days depending on the business’s and lender’s circumstances. The time frame can fluctuate depending on variable factors such as business loan amount. In.

Bristol and the South West there are business loan providers dedicated to supporting business here in Bristol and surrounding areas. This is because business loans in Bristol can be difficult to come by. Especially when starting out looking for a start-up loan. With government funding such as bounce back loans and CBILS loan being there for more established businesses. Some smaller and start-ups in Bristol have missed out on business loans. Pinnacle Finance has been there for business in Bristol to secure business loans through the covid-19 pandemic. We continue to support business In Bristol looking for business finance.


What are the advantages of a fast business loan?


Business owners in Bristol and the surrounding areas often approach Pinnacle Finance asking how they can best utilise a business loan. Having an accountant in Bristol or Financial Director is hugely beneficial. Having the basics of a cash-flow forecast or business plan will aid in mapping out what the business loan will be used for. Plus, the financial benefit it will have on the business. A CBILS loan in Bristol has the additional benefit of 12 months of no repayment over a maximum term of 6 years. Once the government loan ends in 2021 then unsecured business loans and secured business loans in Bristol will be available. A business loan with no early repayments and no to little setup fee is favorable. However, this will depend on the type of business to whether it is available.


Business Grants in Bristol


The term business grant often provokes thoughts of free money for businesses in Bristol and the UK. Unfortunately, this isn’t the case. Green energy or high-tech growth businesses have the opportunity to secure business grants. This can be for start-up funding or research and development businesses. Every business grant in Bristol and the UK will have its own criteria to hit. Pinnacle can aid with securing business grants and alternative business funding in Bristol. There are the best business loans available to businesses that require financial backing to grow.



How much is an unsecured business loan in Bristol?


An unsecured business loan can be favourable to business owners due to the security of the business loan. Unlike a traditional bank loan. An unsecured business loan is a personal guarantee backed. No second charge or debenture is taken over the business in Bristol. Personal Guarantee insurance can be taken out by the business owner. This can provide comfort to the business owner.

Of course, a form of security for the business loan will need to be given by the business in Bristol. The unsecured business loan in Bristol or across the UK will there for non-homeowners looking for a business loan. The amount can vary between £3,000 up to £300,000 depending on the size and financial strength of the business. Similarly, unsecured business loans can act as short-term business loans in Bristol. Term up to 18 months with no early repayments. Giving the business in Bristol the short-term funding it requires.

Start Up Loans Business Women

The Best Start Up Business Loan

What Do I Need to Get A Start Up Business Loan?

When looking for a start-up business loan there is fundamental information that you need to have so you qualify for the loan. Commonly businesses approach Pinnacle looking for start-up investment with little to no information. We understand that when starting your new exciting venture, there is plenty to get organised. Having the financial backing to set your dream alight it crucial. Correctly, you first may have identified using a business loan is better than investing all your life savings. So how do you get a business loan? The first thing you need Is a sound business plan.

A plan that illustrates what the business does, why it will be successful, what you are looking to invest in, and a clear cash-flow projection. This is pivotal. Without this, would you invest in someone else’s businesses not knowing anything about it? Of course, you wouldn’t. So, having your business plan ready to go, demonstrates that you are well prepared. Secondly having your business bank account set up is again an absolute must. This shows to the lender that you have a place for them to release the funds into. Plus, you have passed relevant AML (anti-money laundering) checks with your business bank provider. Once you have these 2 pieces of information readily available then approach a business finance broker.


Poor Credit Business Loans

Business owners looking for a business loan don’t always have the luxury of having excellent credit scores. This may be showing as poor credit. For several different factors that are historic and out of your control. However, every financier will do a credit check. But don’t panic if your credit score isn’t great. Having the full picture of why your credit score may be below ‘average’ is where we can help. Knowing what happened and having actions to mitigate against any further risks and how you can improve your credit score is positive. Alternative finance lenders can be flexible in their approach and accommodate a wide variety of businesses and business owners.

So, don’t think just because your personal credit score is low then you won’t qualify for a business loan. There are many options and having the whole of the finance market available to you through a finance broker like ourselves is crucial. Whether you have good credit scores or not so.


How Much Does A Start Up Loan Cost?

Running a new start business and keeping overheads as low as possible is a key variable. Whilst keeping cash-flow strong can be difficult. So, when investing at the start having the financial backing to grow your business highly important. The question of how much do business loans cost is common. For good reason. The answer is all dependent on the individual business owner or owners’ circumstances. No two businesses are the same.

If you are a homeowner, excellent credit, and well experienced within the business sector then this will carry lower interest rates. Rates of circa 3%-7% per annum. If you are a non-homeowner, poor credit and no experience with little to no business plan interest rates will rise. You can start to see why having a business plan is so fundamental. Especially when a human underwriter is assessing your application. Installing the confidence in the finance company to invest in your business.

Looking to Apply For A Start Up Business Loan?

Hopefully, after reading the above you start to get a feel for what is required to secure a start-up business loan. What information will be assessed and commonly not just the funding is put in place but a business mentor to help you grow your business. It’s in the business finance company interest to support and grow your business. The better and quicker your business grows the fewer risks and potentially quicker you can repay the funds. Having a finance broker in your corner to grow and source the best business loan for you will save you time and money.

The 2 most important factors within business. At Pinnacle we know that every business has to start somewhere. You may have the best vision of your business but unsure where to start with business finance. We have helped countless businesses of all sizes secure funding. Not just corporate and SME finance but new start funding!

Business Loans

How Do I Apply For A Business Loan?

What is a small business loan?

When starting a business, commonly the first form of commercial finance owners think of is a business loan. This is because it’s the most popular form of business finance. But how do you go about securing a small business loan? A finance broker is a great place to start as they have the whole of the market available to them. Here at Pinnacle, we have over 70 different financiers on our panel.

Since 2008 a wealth of alternative finance providers has developed in the market. All having a unique and individual finance offering. Start-up businesses can look for grants, angel investment, or private equity but, this can be extremely time-consuming. A case of ‘’not what you know but who you know’’. Therefore, many doors can be closed before even getting started. Having a clear business plan, cash flow projection for 12 -24months in crucial. It will remove the stress from starting the business. Keep you focused on your monthly goals. In addition, doing a thorough SWOT (Strength, Weakness, Opportunities, Threats) is vital. That could be doing test trading of the market you are looking to enter before you commit. It gives you a clear indication of the challenges you will face and how to overcome these. Once you have this in place and are ready to look for a start-up business loan then have these documents ready. It allows the commercial finance broker to quickly access the lender’s criteria and gather quotes for you.


How do small business loans work?

There are 2 forms of business loans. A secured loan often allows for a higher funding amount, above £300,000. Or an un-secured loan of between £500-£300,000 for non-homeowners. Due to the nature of it being un-secured, this will commonly carry a higher interest rate but lower risk to the business borrowing. The term of the loan can again fluctuate between 1 month up to 5 years depending on the circumstance. A revolving credit facility offers a line of credit whereby you can borrow as much or little as you like. Limiting the risk for the financier and the business borrowing a loan. As you can start to see, times have changed. No longer does a start-up business looking for a loan have to commit for a lengthy-term with rigid guidelines. Once you have a loan provider who agrees to lend the required amount, a monthly interest rate will be applied. Some loan providers will charge this on a daily rate making it easy to manage. Others and more commonly on a monthly basis. Having the flexibility of no early repayments, being able to borrow more when you require should be considerations. This is where a finance expert at Pinnacle Business Finance will explain to you how the business loan will work for you. Saving you time and money!


How do you qualify for a business loan?

When applying for a business loan the first critical step is to make sure you have the information previously mentioned in order. This includes a business plan, cash-flow forecast for a minimum of 12 months, a business bank account set up, and any statements if you have started to trade. Finally, a solid structure of where you are taking the business over the next 12 months. This will demonstrate to the financier that you are serious about growing your business. You have a clear vision of what you are looking to achieve, and you have taken the first necessary steps. If you have a finance broker, they can help you gather this information, approach the relevant financiers and obtain the quotes for you. Leave this to the finance experts as you can go down the wrong avenue if you are not careful. It can be a fast finance options and set up in as little as 24 hours. Making a business loan quick and efficient.


How much can you borrow for a small or start-up business loan?

This is a question that gets raised a lot to us at Pinnacle. This is for a good reason. You want to know how much you can borrow from a loan and how long will it take to get set up. The answer is for a new start business up to £25,000 in one lump sum is the most frequent amount. You will be able to access further funding in the future as the business grows and cash flow improves. Again, if you look at the secured loan option then yes, the funding amount can be much larger. You have to decide whether the risk against the reward is sufficient. If the answer is yes and you have the required information, then there are finance options available to you. The term of the loan can be up to 5 years but commonly 12 months is sufficient. You have to work out how much business finance do I need now? Then once you have put this into your business plan and cash flow forecast approach a finance broker such as Pinnacle Business Finance.


How Can Pinnacle Business Finance Secure A Start-Up Loan For You?

Our funding experts will sit down with you and obtain the funding for you. You can carry on working on other areas of the business and we will take the stress away for you. The first step is to fill out an enquiry form on the website or simply give us a call. One of the team will talk through the next steps to securing a business loan for you. You can manage the process through your online login which gives you access to your own account. It will prompt you when you need to upload information. Allowing you to check on how your loan application is progressing. This is one of the many unique areas the Pinnacle team has. If you would like to start your funding journey then get in touch today.

The World Famous Clifton Suspension Bridge, situated in Bristol, UK.

What Is a Commercial Finance Broker?

What is the job of a commercial finance broker?

A commercial finance broker has an extremely important role in business finance in the UK. A finance broker should compare the market, saving you time and money with no preference to a single lender. They should be there to support and guide you through the process, answering any question you may have. Since the credit crunch of 2008, a wealth of alternative lenders have been there offering something different to high street banks.

Pinnacle Business Finance is experienced within invoice finance and business loans. Not only as a broker but as a lender too. This is because the team has worked within these sectors for financiers so understand the market requirements. The Pinnacle team will guide you through your funding journey.

 Why should I use a commercial finance broker?

This is a question that has been raised in the past. Would you try and build a house with no experience or knowledge of building? You have a business to run which is time-consuming in itself. Let alone having to go to the market and hoping that you strike lucky with a lender. Then not knowing if you have the most appropriate funding in place for your business. Comparing your funding options is crucial and a business finance broker will do this for you adding value along your funding journey.

Pinnacle Business Finance is rated 5 stars on Google. Evidencing the importance we put on customer service. We have a panel of over 70 lenders all bringing their own unique view on commercial finance and the funding facilities they can offer. We can negotiate on your behalf. Were there to support you to make sure you understand how the finance facility will work.


Where do I find a commercial finance broker?

You may have gone to your accountant looking to raise commercial finance. You might have been referred to a finance broker. Then again you can go online or ask for recommendations from another business owner you trust to see if they have used a finance broker in the past. There are many different places you can find a finance broker but getting the right one is crucial. Some brokers may specialise in 1 certain product as others have a broader more experienced role and have a greater product offering.

Pinnacle can source a wide range of commercial finance offerings for business’s not just invoice finance and commercial loans. This may include merchant cash advance, asset finance, or a commercial mortgage. Pinnacle finance has various case studies, google reviews, and testimonials which evidences our ability to get the job done at the highest standard.


How can a business finance broker help my business grow?

If you are SME business or new start business looking to grow and invest then a commercial finance broker can help. The reason why is because they not only will source the most appropriate funding for your business, they can tailor it to fit your needs. A good finance broker will demonstrate their experience and knowledge within the sector. Giving you the confidence that investing in your business is the right or wrong option at that given time.

Pinnacle sources commercial finance for you and will make sure you are happy with the funding offer. Frequently offering multiple funding options to you letting you decide on how you would like to proceed. Getting the commercial finance in place is vital to the success of your business. If you would like to find out more about how Pinnacle can make your business grow with commercial finance, then get in touch to claim your free consultation with a funding expert.

cash flow

The impact of Late Payments on Cash Flow

The impact of Late Payments on Cash Flow 


 Covid-19 Loans 

During Covid-19 small businesses across the UK are striving to survive and keep cash flow positive. This can be particularly challenging when their customers are taking longer to pay and therefore stretching cash flow further. Employees are being furloughed to reduce overheads. Also, many SME’S are taking on board Government-backed loans such as the BBLS (bounce back loan scheme). The BBLS is for businesses that are looking to borrow between £2,000-£50,000 in as little as 24 hours. The government covering the first 12 months of interest payments. A business will be able to have access to the loan, up to 25% of their turnover as a lump sum payment. 

Pinnacle and your accountant can help you through the process of applying for a government-backed loan. The scheme is initially open until the 4th of November 2020 with 100% Government backing. The term of the loan can be up to 6 years keeping monthly repayment as low as possible, however increasing the overall interest payable.  

There are alternative business finance options available to UK businesses that will mitigate late payments and keep cash flow strong. The labour peer Lord Mendelsohn has introduced a Private Members Bill to the House of Lordsto tackle the issue of late payments for small businesses. This was proposed in January of 2020. Commonly with 30-day payment terms on an invoice if the customer exceeds this term, there is little to no fines incurred. This has repeatedly put a strain on cash flow for businesses. Especially in industries such as haulage, recruitment, and construction which rely on a positive cash flow position to pay staff, maintain vehicles, and buy materials.  


What Is the cost to SME businesses? 

 Pinnacle Business Finance is a member of the FSB (Federation of Small Businesses). A report was generated by the FSB back in 2016. This gave some headlines figures on the impact of late payments on the economy. A staggering 37% of small businesses reported having cash flow difficulties and resulting in 30% running into their overdraft. In addition to this, nearly 23% of all insolvencies in the UK were due to late payments. The estimated cost of this to the economy was 2.5 billion! 


What cash flow solutions are available? 

 One funding option available is invoice finance. There are 2 facilities which can be utilised to tackle cash flow using invoice finance. These are factoring and invoice discounting. These finance facilities are used to mitigate late payments and free up capital which is tied up in outstanding invoices. Furthermore, if a business has particular customers who are late at paying and require funding on these, then selective or spot factoring can be used. This is where the business picks and chooses what invoices or customers they want funding on.  


Credit Line facilities? 

 A credit line facility can also be used to tackle problems with cash flow and increase turnover levels. A credit line facility is a set amount of funding that a business can borrow and pay back over a flexible term. This operates like an overdraft and provides an SME or corporate venture the ability to access large amounts of funding as required.  


Accountants Support With Business Loans When The Government Say No

Accountants can support

Accountants across the UK are finding themselves in a bind, at the moment. While the government has offered to support small and medium-sized businesses with grants, loans, and other funding options, many companies need their money faster or simply don’t qualify for government intervention. Alongside this, many brokers, lenders, and other funding bodies are also having to cut their workforces. This is to ensure that they can keep them healthy during this challenging time.

This is putting huge amounts of pressure on professionals who are dedicated to managing the finances of their clients. Making it feel as if there aren’t any options available to help them. Thankfully, though, Pinnacle is well and truly open for business. This means that we are well-placed to support your clients with business loans during the Covid-19 outbreak and beyond.

What Does Pinnacle Do?

Pinnacle Business Finance is a commercial finance broker. Based in Bristol, Bath, and the South West. Our team of dedicated financial experts have spent the last couple of years building strong connections. With loads of different funding options, including a huge range of commercial lenders. This includes high street banks, along with a wealth of alternative lenders all have unique finance offerings.

Having these financiers on our panel enables us to take your client’s requirements, search through our database of lenders, and come back with a collection of business loan options which will all offer something slightly different.

You can then work with your client to determine the best choice for their funding needs. Whilst relying on Pinnacle to offer support, inform, and provide an agnostic view on securing commercial finance.

Why Choose Pinnacle For Your Clients?

With many lenders and finance brokers closing their doors during this difficult time, having an option you can rely on to serve your clients effectively is crucial. Pinnacle has worked extensively to keep supplying clients with finance options. This means a business loan could be your best choice, but this is just the start of what we have to offer.

  • The most Relevant Business Loan: While we offer support to our clients, we also understand that choice is essential when you’re taking on a product like a business loan. For this reason, we give all of our clients a range of relevant loans to choose from. Providing them with all the information they need to make a well-informed decision.
  • Providers Big & Small: Pinnacle has built strong connections with a range of business loan providers, including both the largest and smallest lenders on the market. Not only does this give your clients more choice, but it can also give you access to finance offerings that traditionally weren’t available.
  • Always Open: Uncertainty can be a killer in the field of accounting, and it always pays to know who you can rely on. That’s why we partner with trusted accountants around the South West to support their clients and provide an additional service.
  • Personal Support: We don’t use complex algorithms or special formulas to make our recommendations; we use human expertise and personal support to ensure that we offer the best business loans for each of our clients. You’ll never be given a generic suggestion by Pinnacle.

Times are tough, and many companies are finding it hard to keep themselves afloat. Accountants have a difficult job to support, advise and guide clients through to make sure they have overall success. Pinnacle Business Finance is always here to help you. We’re proud to be offering business loans that can provide an alternative to the government funding on offer.