BIZL is a business finance comparison platform on a mission to transform the market by putting small businesses in control when raising finance.
In this blog we discuss three areas, i) what businesses BIZL works with; ii) what sectors BIZL supports; and iii) how BIZL can help your business.
What businesses does BIZL work with?
Most of our customers are looking for funding between £25k – £1m and fall into one of these categories:
- Start-ups: minimal track record, in need of capital to get going and take on the world. It can be hard finding a lender to support at this stage, but we can help with access to lenders who are able to lend to businesses with limited track record.
- Scale-ups: growing at a rate of knots, in need of finance to fund staff, marketing and an increasing working capital requirement…we love helping growing businesses with access to lenders who specialise in lending to fuel growth.
- Established: financially stable businesses, looking for ways to reduce the cost of finance or to make a strategic investment in premises. We can get lenders competing to win your business.
The more a business can demonstrate it’s track record and sustainable cash flow, the wider the range of lenders we can find to compete for that business. Stronger applications may look like this: 3+ years trading, generating profits, retaining some cash reserves, and produce good quality financial information. Businesses like this do tick a lot of boxes and will be able to find the most competitive of deals. However, we have such variety in our panel of lenders that we can look at the likes of new businesses, businesses who don’t have a perfect credit history, unsecured borrowing up to £500k and even in some cases 100% financing of premises.
What sectors does BIZL support?
Here are the main sectors that BIZL supports, along with some statistics from SME Finance Monitor to help understand the dynamics of each sector.
- 81% of UK manufacturers reported making a profit last year.
- 39% use external finance.
- We support manufacturers with working capital finance, invoice finance, asset finance, commercial mortgages, business loans and unsecured finance.
Wholesale & retail
- Businesses in this sector were most likely to report significant sales growth last year, with 47% reporting a whopping 20%+ growth in 2016.
- 45% use external finance.
- We support wholesalers & retailers with working capital finance, invoice finance, asset finance, commercial mortgages, business loans and unsecured finance.
- 77% of UK healthcare and social care businesses reported making a profit last year.
- 32% use external finance.
- We support healthcare businesses with goodwill loans, buy-in loans, working capital finance, invoice finance, asset finance, commercial mortgages, business loans and unsecured finance.
- Just over half of transport businesses report being confident putting together a finance application to another lender.
- 36% use external finance.
- We support transport businesses with working capital finance, invoice finance, asset finance, commercial mortgages, business loans and unsecured finance.
Hotels & restaurants
- Less than two thirds of hotels/restaurants report being confident putting together a finance application to another lender.
- 42% use external finance.
- We support hotels & restaurants with working capital finance, asset finance, commercial mortgages, business loans and unsecured finance.
- The most confident sector when approaching lenders, with 65% being confident to approach other lenders.
- 33% use external finance.
- We support business services with working capital finance, invoice finance, asset finance, commercial mortgages, business loans and unsecured finance.
- Construction is the most domestic-focussed sector, with 95% of construction businesses focussed solely on the UK market, bringing direct benefit to the domestic economy.
- 38% use external finance.
- We support construction businesses with working capital finance, invoice finance, asset finance, commercial mortgages, business loans and unsecured finance.
How can BIZL help my business?
We have a varied panel of lenders, we support a healthy list of sectors and we have access to all types of SME borrowing; so how can we help you and your business grow? Let’s look at some examples:
- Looking to buy new premises? Has the leased premises your restaurant operates from come up for sale? Well, a commercial mortgage is what you will need. That all important question around how much you will have to drum up as a deposit can become a sticking point but it doesn’t have to be. With a mix of high street and challenger banks as well as alternative finance providers we have access to a number of commercial mortgages with varying loan-to-values, terms and interest rates. Depending on the sector we can generally source LTVs from 65% – 80%.
- Need a quick short-term cash injection? We know that businesses can, at times, see their cash reserves shrink and sometimes a quick fix is all it takes. BIZL has some great fuss-free, fast lenders on our panel who can support those short-term cash flow requirements.
- Are your customers taking too long to pay your invoices? Whether you are a fast-growing vineyard, a vegan food manufacturer or a FMCG haulage company , invoice finance can be a great way of freeing up the cash in your debtor book to help maintain that all-important healthy cash flow. You can even opt to have that very lender manage your invoices. A great cash flow option with the added benefit of outsourcing the administration.
The great news is these examples are only a small selection of the many ways in which we can help a great number of different businesses grow and prosper.
Whether you have existing borrowing and want to reduce your costs, are looking to purchase business premises, or wanting to expand your fleet of company vehicles, let BIZL help you find the most suitable and affordable finance that works for you and your business.
Do you need our help? Contact us on [email protected]
SECURITY MAY BE REQUIRED, INCLUDING GUARANTEES, DEBENTURES AND LEGAL CHARGES OVER PROPERTY.
BIZL Limited (company number 10838494, registered office 66 Prescot Street, London, E1 8NN) is authorised and regulated by the Financial Conduct Authority. Registered No: 784499. BIZL Limited is a credit broker of business finance, not a lender.