Fit Out Finance Teams up with Transmit to offer funding for new start up business
Fit Out Finance is pleased to announce that we have entered into an affiliate agreement with Transmit Start-Ups which enables us to offer start-up loans under the official British Business Bank Start Up Loan scheme.
Currently approximately 60% of deals written by Fit Out Finance fall under the start up banner. Whilst our equipment finance and lease facilities cover a broad range of asset types. The Start Up Loan facility bridges the gap for expenditure which isn’t appropriate for leasing. Some examples we have recently encountered which will suit Start Up Loans rather than leasing are:
- Franchise purchase.
- Legal and professional fees.
- Direct payments to trades.
- Insurance and licences.
- Manufacture of own equipment.
For more established businesses it is often possible to finance these intangible items under an unsecured loan agreement. However, the commercial lending market typically requires a trading history for unsecured loans. The Start Up Loan, as the name suggests is aimed at businesses without a trading history, or with up to 2 years trading behind them. Leasing providers on the other hand are happy to consider applications for equipment finance for all business types, including start-ups.
In line with our ongoing business, Fit Out Finance will continue to specialise in providing funding via loans and equipment leasing. Working with businesses that require funding for fit out of commercial premises, whether those premises are shop, warehouse, hotel, nursing home, restaurant or any other type of business premise.
Start up businesses are usually defined as those with less than 2 years trading, and might be ‘cold’ starts, phoenix or re-starts or simply a new business adding additional outlets to an established business premise.
Get in touch today!
Whatever your project maybe, Fit Out Finance can support you with funding for new start up business. Give us a call on 01494 422 614 to find out more. Alternatively, enquire online and a member of the team will be in touch shortly.