As more and more business owners seek out alternative business finance options. The Innovative line of credit or sometimes called PAYG business finance has already started to grown in popularity. I think for any growing business this is a fantastic facility with advantages like spread of application to funds hitting your bank account.
Over the last two years I have spent time identifying and partnering with some of the leading PAYG business finance line of credit providers. So that my readers don’t have to waste time searching the internet and spend time trying to establish eligibility criteria.
Noteworthy, whatever type of PAYG business finance line of credit you may be looking:
I have sourced a cross section of partners. Just select the model that best suits your business needs. So, first of all let me start by providing a quick review of the types of line of credit services available.
Unsecured PAYG Business Finance
Spotcap provide unsecured PAYG business finance line of credit solutions. First of all Spotcap make their decisions based on recent business performance rather than business plans and forecasts.
Consequently, this is what allows them to offer business finance without the need for business owners to give personal guarantees.
Since the company founded in 2014, to date it has raised £63.5 million globally. Also it has provided a £25m UK credit line run rate.
Furthermore Spotcap can be described as an innovative lender for small and medium sized businesses.
The company has headquarters in Berlin, operating in Spain, Netherlands, UK, Australia and New Zealand.
If you think the unsecured model fits your business needs click the expression of interest button where you will be able to review the full criteria, check out the application requirements and access my free service.
Secured PAYG Business Finance
Since there is no better way than to listen to what existing customers say about of Growth Street. I have taken the time to select three videos from companies who have now put this innovative facility to good use.
Growth Street have named their PAYG business finance GrowthLine. It can be used for almost any purpose where the business has a working capital need. Existing customers use the facility to ensure cash flow runs smoothly. Alternatively, they can also invest in projects that facilitate business growth. For example; hiring additional staff, equipment, office investment or building inventory.
Growth Street lend to most sectors, with many of their current customers working in fields such as; manufacturing, professional services, recruitment, fashion and wholesale.
For speed and ease of use Growthline is integrated with the business owners online accounting software. Growthline works perfect if you are using a cloud based accounting software.
If you think the secured model fits your business needs click the expression of interest button where you will be able to review the full criteria for Growth Street, check out the application requirements and access my free service.
Secured PAYG Business Finance Line Of Credit
Thank you JustCashFlow for this great video. The video offers a great example on how lack of cash can stop you from growing your business.
If you think the secured model fits your business needs click the expression of interest button where you will be able to review the full criteria for JustCashFlow, check out the application requirements and access my free service.
Unsecured PAYG Business Finance
For my non UK readers I have sourced Ondeck. They work with business owners in the USA, Canada and Australia. Listen to what some of the 80,000 small business owners have to say.
Values Cash Flow Not Just Credit Score
OnDeck is the largest online small business lender in the U.S. Since 2007, they have issued over $8 billion in loans for many business needs including inventory purchase, equipment acquisition, hiring, and general corporate purposes. Serving more than 700 industries throughout the country, OnDeck has been trusted by over 80,000 small businesses by providing PAYG business finance line of credit.
- Rates as low as 13.99% APR
- Your line amount and rate will be based on our assessment of your business along with your business and personal credit
Keeping the books
If you are thinking about securing a PAYG finance, you may want to take advantage of this free trial offer.
For all my American reeders I have secured this offer from Freshbooks.