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How do you raise funds for your business without going to the bank? Julia Weeks has covered the options for TTG, the leading travel trade magazine
- AuthorJulia Weeks
While securing a bank loan may still make sense for some travel companies, it can be an arduous process requiring a substantial track record. Understandably, banks are careful to lend only to businesses which are in a strong position to repay debt and with the travel sector still decimated by the pandemic, this may not be an option for many business owners. Fortunately, there are other alternatives, Julia's full article covers the following:
- Equity Finance – issuing more shares in your company to new investors
- The common three stages of growing your business by way of equity finance: early stage business angel; second round funding from venture capitalists; and anticipating a stock exchange or AIM listing and private equity investment.
- Government Recovery Loan Scheme: the government has set up this scheme to help businesses of any size access loans and other kinds of finance so they can recover after the pandemic and the transition period.
- Peer to peer lending
- Merchant cash advance finance to borrow against future revenue on a short-term basis
- Asset finance
- Family lending
For more information please contact Julia Weeks, Senior Associate, Corporate on +44 (0)20 7421 7965 or at email@example.com.
LEGAL NOTICE: The contents of this article are for general information purposes only. The information in this article does not consider the legal framework for each type of funding or constitute legal advice and should not be relied upon as such. Specific legal advice relating to your particular circumstances should always be sought separately before taking any action.