PAYG Business Finance Line of Credit

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. 

PAYG business finance unsecured line of credit
PAYG business finance unsecured line of credit (1)
PAYG business finance unsecured line of credit (1)

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:

  • Unsecured
  • Secured

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.

Spotcap

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.

Quick Checklist

  • Limited companies (LTD, LLP, LP), sole traders and partnerships
  • Minimum 2 years trading, annual turnover of at least £250k
  • Loan amount - £10k - £300k – Lend up to 8-12% of annual turnover
  • Duration - Up to 15 months - no early repayment fees after 1 month
  • Fully unsecured – no personal or director guarantee.

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.  

Growth Street

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. 

PAYG business finance unsecured line of credit (1)

Quick Checklist

  • Limited Companies Based In UK
  • Minimum 15 months trading and filed accounts at Companies House. Turnover Greater than £500k
  • Profitable with a positive Balance Sheet.
  • Ideally B2B raises invoices and/or holds stock
  • Directors and major shareholders are UK/EEA/ USA/AUS/NZ based.

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.  

JustCashFlow

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. 

Quick Checklist

  • UK Limited Company or LLP
  • Not in Pre-Revenue Stage
  • Funding growth, working capital or stock purchases
  • Directors guarantee required
  • Debenture required
  • Directors have no Previous Conviction for fraud or money laundering.
  • No IVA, DRO or payment plans or unsatisfied CCJ's

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.  

Ondeck

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

Quick Checklist

  • Companies in business at least 1 year
  • $100,000+ in gross annual revenue
  • A majority owner with a 600+ personal credit score

American readers can take advantage of this FREE Trial Offer I have negotiated for my readers.

The first thing to know about FreshBooks is getting started is ridiculously easy. Most people send their first invoice seconds after starting their free 30 day trial. You can take a quick look at what Freshbooks have to offer on their website. Just click the link below. 

line of credit Ondeck
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PAYG business finance read why lack of knowledge stifles entrepreneurs ability to make informed choice. 

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