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Urgently Need Business Loan
Comments
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The only problem with factoring is that the company would take a personal guarantee, which should things go wrong you would be liable for the debt0
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I may be wrong, but factoring does not really like lending against invoices for services, rather than goods.
And yes, factoring would take a PG, but this would only be an issue if the other companies went bust and failed to pay the invoices.
What do you need to buy before you get paid?
how have you made £2k profit, but not yet had your merchant account activated?
Can you chase any of the invoices you have already written and see if you can sweettalk them into paying?
Can you take cash/cheque on any of your private jobs?
Being honest, it is unlikely that you will get business funding, because of your credit history and the length of time trading.0 -
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