‘Strategic September’ is a popular time for reviewing business performance, realigning business objectives, and gearing up for a busier period.

It is one of the busiest months for corporate debt borrowing as businesses come back from the summer break with a ‘back to school’ energy.

Why should businesses review their current debt facilities?

Businesses move through different trading cycles as they develop and grow. If you have an existing credit line, it is good practice to review it with an experienced advisor every 12 to 24 months.

Your debtor book may have grown or perhaps trading performance has changed. As your business evolves, you may be able to secure a more competitive deal.

Similarly a turbulent trading cycle may have impacted negatively on cashflow. Or the business may have built up multiple lines of debt that are becoming difficult to service. Our advisors offer complimentary consultations to see if a working capital facility or debt consolidation could improve your cashflow.

Have all business finance rates gone up with the increases to base rates?

Not necessarily. There are different types of business finance products including fixed rate, variable, asset backed and unsecured. The rate your business is offered is determined by the sector, the size of the loan and the creditworthiness of the business.

Lenders typically charge higher rates where they see greater risk, such as start-up businesses. Business performance is taken into account when assessing an application. Borrowers with a proven trading history and a strong cashflow forecast will qualify for some of the better rates.

The cheapest form of borrowing is asset backed. Consider if you have assets available (invoices or property) that can be used to back your borrowing.

What product is best for me?  

Business products range from terms loans, cashflow solutions, commercial mortgages through to funding for mergers and acquisitions. There are sector specific products for the care, education, retail, agricultural and construction sectors to name a few.

We support whether you are looking for a new funding solution or to re-finance your existing debt. Pilot Fish take the hard work out of sourcing finance so that you can concentrate on running your business.

We work with hundreds of lenders from across the whole market sourcing the best option for your personal circumstances, sector, and long-term business strategy.