The economy may be showing signs of growth, but for small and medium-sized enterprises, bank lending continues to be difficult to find. According to the Bank of England, average monthly net lending flow to UK businesses was negative in the three months to November 2014. They point out that net lending to SMEs was less negative than in previous quarters at -£0.1 billion, but this is small comfort to those looking for a loan.
The good news is that there are a number of alternatives available. Uganda Convention is partnering with a specialists in this area to help Ugandans to access unsecured loans up to £70,000.
Before looking for funding, the first step is to be clear about exactly why you need the money. Is it for new premises or equipment, or to hire new staff? How much will this cost, and how will it improve your profitability and cash flow? Without suitably-costed answers, you will not get very far.
You should also consider whether you actually need external finance. For example, an established business may be able to fund itself by making improvements to cash flow through a review of prices, costs, sales, stock levels, debtors etc.
Did you know that in the past two years, over 1,000,000 businesses have been started up in the UK? If you want to start your own business you can be helped to turn that dream into reality.
Over the last 2 years our sponsor has assisted to distribute just over £2.5m worth of funding and loans to over 400 entrepreneurs who needed capital to start or grow a new business.
By working with them, you will not be left on your own – they will give you the right advice and support to help you find the right lender, investor or financiers to secure anything from as little as £2,000 up to £70,000.
Whether you are using the loan to start or expand your new business idea or existing venture, they are here to help you along your exciting journey.
They can guide you in completing your Business Plan and Cash Flow Forecast to secure funding. This is often the most difficult aspect of starting or growing your business as you may struggle with numbers and understanding what a healthy cash flow should look like and therefore find completing a business plan and cash flow forecast completely daunting.
To pre-register your interest, see the form below. You will also have a one-on-one with Mavis and the team at the Convention.
To be eligible for the loan you must:
- Be over 18 years of age
- Be living in the UK with the right to work and reside in the UK for the duration of the loan -The businesses main base and address will be in the UK
- Have a valid Visa or passport that does not expire before the end of proposed loan term
- Have up to date identification (ID) and monthly statements from the bank or utility service companies
- Have a credit report available. We can help you access this for FREE
[quote animation_type=”flash”] See you at the Convention on 10th Sept 2016[/quote]