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Our guide to business finance services

Most businesses, no matter how big or small, will need to take advantage of business finance services from their bank or chosen financial institution at some point or another. Usually if a business is planning to expands or needs help covering minor business expenses, they will turn to business finance services for a loan, which os often tailored to meet their individual needs.

Santander have a range of business finance services including a Santander current account. As well as offering free day-to-day banking, the account offers unlimited debit card payments, unlimited automated BACS credit and unlimited cash withdrawals. Depending on what you need for your account, Santander offers generous rates, however they are subject to a minimum of £3,000 being deposited in to your account each month.

As part of the business finance services at Funding Circle, they offer a range of business loans to suit your needs. Funding Circle has lent over £14 million to people in the eighteen months since it started and is well-known for its low cost loans and generous customer care. However, Funding Circle will only lend money to established businesses who have an excellent credit rating. This means new businesses do not qualify for a loan.

Some financial institutions offer cash flow protection as part of their business finance services. This is where they buy any outstanding customer invoices from you and collect the debt themselves. This is a good arrangement if you have a lot of customers who are either late payers or who have refused to pay you at all. If you have another alternative, it is best to take that as you will not recoup all the money owed to you going through a cash flow protection service.

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