When it comes to commercial finance, Glasgow businesses are at an advantage. The fact the city is such a busy commercial centre means that many of the country’s large traditional financial institutions have branches there. This gives the city’s firms plenty of places to go when they want conventional finance.
However, there is a problem. Increasingly, firms are finding it difficult to raise money from conventional financial sources.
It typically takes a long time to get a decision and many banks and building societies are becoming increasingly demanding when it comes to the criteria firms have to meet. Quite often, firms are turned down for finance or the decision comes too late.
Alternative commercial finance in Glasgow
Fortunately, there is an alternative. Businesses can use their assets to raise money. At Invoice Finance Scotland, we specialise in providing quick, inexpensive, short-term loans to firms of all kinds using their assets as collateral. As an alternative source, commercial finance gives Glasgow businesses the means to progress.
Outstanding invoices are an asset
Many firms do not realise that their outstanding invoices can be used as collateral for loans. For example, if a client owes a firm £1,000, that invoice can be used to borrow up to £900 using invoice factoring or invoice discounting.
Other assets that can be used
It is also possible to borrow against the value of property, or against machinery for a percentage of its value. Alternative commercial finance allows Glasgow firms to borrow money against the raw materials they hold, or any finished products yet to be sold, and the amount that can be borrowed varies.