Great to have helped another growing business.

The Programme is only opened to selected Finance Brokers and our inclusion to this exclusive group is a recognition of the high-quality clients we have introduced to Funding Circle during our association.

Our focus on supporting our clients, by investing time in understanding their business and assisting Funding Circle in their assessment by carrying out a thorough due diligence in advance of submitting a loan application, has been key to maintaining our high performing loan portfolio.

How does our inclusion on the Business Champion Programme benefit our clients?

The programme will bring:

• Dedicated service support from Funding Circle which will include priority review of our applications so leading to a quicker overall turnaround
• And, perhaps more importantly for our clients, confirmation that we offer the best possible Funding Circle solution – a definite plus!

Thanks to the Funding Circle team who have supported BLS over the years, including James Lovett, Dan Stanton and our current Manager Alex Austin.

If you’re a growing businesses it can be a struggle to fund expansion and day-to-day working capital from internal resources.

If you are a business based in Wales and planning to raise finance in the near future then you may be interested a series of free workshops hosted by Business Wales.

Business Loan Services’ Rob Warlow will be leading these four hour workshops looking at:

• Why growth needs finance and the importance of the finance source being ‘fit for purpose’
• How to prepare a finance proposal for the bank, including,
  • Writing a business plan – the framework
  • The financial information required
  • 9 steps to preparing for a meeting with the bank
• What banks look for in a finance request; how they will assess your request and why they would say ‘no’
• The 9 sources of growth finance, including the range of alternative finance solutions

The workshop venues and dates are:

Wrexham – 5th February

Bangor – 6th February

Brecon – 13th February

Narbeth – 27th February

To find our more and to book on these free workshops, visit Business Wales website.

Thanks to all our clients and introducers who helped make 2017 another great year for BLS in supporting growing businesses in need of finance.

We look forward to assisting you and other businesses achieve your growth plans in 2018.

Thanks again and have a Happy New Year!

Have you ever wondered how a Bridging Loan can help a business? Recently we demonstrated exactly how such a finance facility can be used by helping a business secure its future.

BLS’ Sue Lewis was approached by an Accountant asking if she could help his client. The business was faced with an uncertain future when the owners found out that the premises they had rented, and successfully traded from for many years, was due to be sold at auction within a few weeks.

Not liking the idea of having an unknown landlord, and not having time to dispose of another property to raise cash, they needed quick access to finance to purchase the premises before it was listed for auction.

Sue swiftly secured a short-term bridging loan and agreed with the auctioneer that the property, subject to a quick completion, would be withdrawn from the auction catalogue.

With a tight deadline, the client was pleased that with the Bridging Loan in place, they could complete the purchase of the property and secure the future of their business.

They now have time to proceed with the sale of a surplus property, the proceeds of which will be used to repay the Bridging Loan.

This is a great example of how a Bridging Loan can be used to benefit a successful business.

As 2016 closes and a New Year starts, just a quick note to say thanks for your support over the last 12 months.

Thanks from all of the BLS team, especially to those businesses which entrusted us in raising finance to help achieve their growth plans… it was was a pleasure to assist you.

It’s likely that 2017 will be a challenging year for many but as we know, challenges also bring opportunities, and we will always be available to discuss how you can finance your plans.

Don’t forget to continue checking out our weekly Business Finance Bulletin for insights and tips on raising finance. I’ll be back on Friday 6th January with the first Bulletin of 2017.

On behalf of the team, thanks again for your support and have a great New Year.

We’re delighted to announce a new addition to the BLS team.

Simon joined BLS in March 2015 after completing 33 years’ service with Barclays Bank in the South Wales area. During his time in High Street banking he undertook a variety of roles in Corporate, Business and Retail Banking. His career started in the Branch network, progressed to the main Corporate business centre in Wales. In the early 90’s Simon then moved into retail banking where he became a Branch Manager and subsequently an Area Manager for the Banks Mortgage Team in South Wales.

Simon ultimately moved on to undertake the role of Business Manager looking after businesses with a turnover of up to £2m and then to Senior Business Manager overseeing a portfolio of businesses with a turnover of between £1m and 10m across South Wales.

Simon is well known for adding value to businesses via an excellent market and Industry sector awareness and by developing a deep understanding of client needs.

The Business Loan Services team were out in force on Thursday 25th September where we were exhibiting at the Introbiz Business Show in Cardiff.

The day was a huge success and it’s clear from speaking to many business owners who visited our stand that confidence is high with many actively planning for growth. The discussions we held revolved around the different sources of finance options available to fund growth ranging from traditional borrowing to the new alternative sources.

Rob also hosted a seminar on ‘How to Fund Growth Without Paying the Bank a Visit’ in which he provided an overview of the alternative financing scene.

We’re looking forward to next year’s event which we’re sure will be even bigger!

BLS team: Rob Warlow, Colin Venables, and Steve Taylor

With the economy beginning to pick there is one barrier to growth that many business owners don’t see until it’s too late and that is lack of cash to fund future growth. Two recent surveys have highlighted the recurring problems UK businesses have when it comes to late payment.

The first survey from Close Brothers reveals that of those businesses experiencing problems due to late payments, 58% said that it impacts on their day-to-day cash flow management with 17% saying it has resulted in them reining in necessary spending. A further 15% say it threatens their ability to trade.

The impact of late payment is not just on poor cashflow but also in terms of the time taken out of the working day to chase up outstanding debts. Close Bros found that 17% of businesses spend more than 10 hours a month chasing late payers.

Despite chasing for payment it can often happen that the debt remains unpaid and findings from Satagom an automated credit control firm have revealed that 40%of firms have written debts off in the past.

As discussed in previous blogs part of the solution the late payment is to ensure there is a system and process in place for chasing bad debts. The Satago survey found that 77% of firms don’t have a person or a procedure in place so making the chasing of late payments even more difficult.

If your growth plans are held back by poor cashflow there are a number of solutions including invoice discounting, factoring, and spot finance which are detailed here – Cashflow Solutions.

Also here is a chat Rob Warlow had with Steve White of Thornbury Collections on steps you can take to avoid late payment.

With crowdfunding and alternative sources of finance continuning to grow the new Financial Conduct Authority regulations being introduced on 1st April will bring further confidence to the market.

Here’s an interview I did recently on a BBC Radio Wales prgramme, Wales at Work, discussing crowdfunding with Adam Tavener of Alternative Business Funding.