Could Your Waste Business Benefit from Government-Backed Funding?

Access to funding can play an important role in helping businesses manage cashflow, invest in growth and take advantage of new opportunities.

However, securing the right funding isn't always straightforward.

Depending on the lender, the amount you are looking to borrow and your individual circumstances, businesses can sometimes find that traditional lending options don't provide the level of funding they need.

That's where government-backed funding schemes, such as the Growth Guarantee Scheme (GGS), could potentially help.

What Is the Growth Guarantee Scheme?

The Growth Guarantee Scheme is designed to support access to finance for eligible smaller businesses.

Through the scheme, the government provides participating lenders with a guarantee, which can help lenders offer funding in circumstances where they may otherwise be unable to do so.

This could potentially mean access to higher levels of funding than would otherwise be available, depending on the lender, the funding product and your individual circumstances.

At Creative Asset Finance, we can help businesses explore the funding options available to them and connect them with suitable lenders.

Cashflow & Working Capital Solutions

For many businesses, having access to working capital can be just as important as funding new assets.

Whether you're managing seasonal fluctuations, investing in growth, purchasing stock or simply looking to strengthen your cash position, there are a range of funding options available.

Unsecured Business Loans

Unsecured loans can provide businesses with access to funding without the need to secure the loan against a specific asset.

Funding can potentially be used for a wide range of business purposes, including:

• Working capital

• Business growth

• Stock purchases

• Operational costs

• Asset purchases

Revolving Credit Facilities

A Revolving Credit Facility, often referred to as an RCF, works similarly to an overdraft.

Rather than taking a fixed amount of funding as a traditional loan, businesses have access to an agreed facility that they can draw from when required.

As funding is repaid, it may become available to draw again, subject to the terms of the facility.

This can provide businesses with additional flexibility when managing changing cashflow requirements.

Vehicle & Machinery Refinance

If your business owns vehicles, plant or machinery, refinancing existing assets could provide an opportunity to release equity.

Depending on the value of your assets and the funding available, refinance could potentially help you:

• Release cash into the business

• Improve working capital

• Reduce monthly payments

• Unlock equity tied up in existing assets

Government-backed funding options can be particularly useful when refinancing vehicles and machinery, potentially allowing lenders to offer higher levels of funding against eligible assets.

Invoice Finance

If your business provides payment terms to customers, invoice finance could help improve cashflow.

Rather than waiting 30, 60 or 90 days for customers to pay an invoice, businesses may be able to access a significant proportion of the invoice value upfront.

Depending on the facility, this could be up to 90% of the invoice value.

Once the customer pays the invoice, the remaining balance is released, minus any applicable interest and fees.

Invoice finance can also support businesses looking to offer payment terms to new customers where doing so could help them win additional business.

Tax Bill Funding

Large tax bills can put pressure on business cashflow, particularly when payments are due alongside other significant operational costs.

Tax bill funding can help businesses spread the cost of:

• VAT

• Corporation Tax

• Self-Assessment Income Tax

Depending on the funding product and individual circumstances, repayment terms can be arranged over a longer period rather than paying the full tax bill in one go.

This allows businesses to retain cash that may otherwise be tied up in a large tax payment and use it for other business purposes.

Tax funding can also be used on an ongoing basis. For example, some businesses may choose to spread VAT payments over several months rather than making one larger quarterly payment.

Vehicle & Machinery Finance

Vehicle and machinery finance remains a key part of what we do at Creative Asset Finance.

We can help businesses explore funding options for a wide range of assets, including:

• Commercial vehicles

• Waste and recycling vehicles

• Plant and machinery

• Specialist equipment

• Business assets

Funding can range from £5,000 to £5 million+, depending on the asset, lender and individual circumstances.

For businesses planning multiple purchases, it may also be possible to arrange a credit line in advance, helping make future purchases quicker and easier.

Prestige & Performance Vehicle Finance

Creative Asset Finance can also help with prestige and performance vehicle finance.

From Range Rovers and Porsches to high-performance and specialist vehicles, we can help source vehicles and explore suitable finance options.

Through our network of current and former main dealer contacts, we can also help clients source vehicles and access opportunities that may not always be readily available to the general public.

We've helped clients with everything from vehicles around £20,000 through to high-value supercars.

Which Funding Option Is Right for Your Business?

Every business is different, which means there is no one-size-fits-all approach to funding.

The right solution will depend on a range of factors, including:

• Why you need funding

• How much you need

• Your current cashflow

• The assets your business owns

• Your future growth plans

That's why the first step is simply having a conversation.

At Creative Asset Finance, we can help you explore the options available and connect you with suitable funding solutions based on your individual requirements.

Interested in Exploring Your Options?

Whether you're looking to improve cashflow, release equity, fund a tax bill, purchase new machinery or invest in business growth, we're here to help. Email our finance Project Development Manger Martin and get started today at martin.higgins@cwsltd.com Learn more about our finance options and see how we can support your waste business: https://www.cwsltd.com/creative-waste-business-asset-finance

Get in touch with Creative Asset Finance today for a no-obligation conversation and find out what funding options could be available to your business.