Finance for your business

Despite pledges by the Government to increase lending to smaller businesses, many companies are still finding it difficult to obtain finance from their banks. However, alternative funding sources, such as peer-to-peer lending websites and ‘business angels’, can often offer funding where other finance is not available.

Many businesses are not taking advantage of these opportunities because they are either not aware that they are available or they do not know where to turn for help.

At Lamont Pridmore, we have a wealth of experience in corporate finance, including finding alternative sources of funding when the banks are unwilling to help.

What happens when the bank says ‘no’?

One of the biggest challenges still facing many small and medium-sized businesses today is the unwillingness of the banks to provide the finance they need to grow their business.

However, a ‘no’ from the bank does not have to mean the end of the story. Sometimes, funding may be refused because the bank does not fully understand the proposal or the potential of the business, often because it has not been presented in the right way.

At Lamont Pridmore, we regularly meet with representatives from local banks to establish their current lending criteria and the sectors they are interested in lending to. This means we know exactly what the banks are looking for, enabling us to provide the most appropriate advice for your requirements.

Of course, banks are not always the most appropriate option for some businesses, so we have also taken the time to research alternative funding sources.

Financial Health Check

As a first step in advising you on your business’s financial needs, we undertake a comprehensive financial health check on your business, including:

  • How your finances are structured
  • Business borrowing review
  • Personal borrowing review
  • How your asset purchases are financed
  • Working Capital Cycle: creditor days, debtor days and invoice finance
  • Bank charges, interest margin and your banking relationship

What alternative funding sources are available?

A number of alternative sources of funding are available, in many cases offering comparable, sometimes more favourable terms than those offered by the banks. These include:

  • Commercial mortgages
  • Invoice financing and asset financing
  • Local and regional lending sources
  • Grant funding
  • Peer-to-peer lending
  • Business angels

To find out how Lamont Pridmore can help you, please contact us.


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