Alternative Finance in Yorkshire is alive and well, despite what the Banks may tell you and we should know, because A1 Commercial Finance has been providing SME business finance in Yorkshire for a number of years.

So what is Alternative Finance?

In its simplest terms, alternative finance is funding that is provided to SMEs (small and medium businesses in other words) by finance lenders that are NOT part of the major banking groups such as Lloyds, Barclays, HSBC, Santander, etc.

After the credit crunch in 2007, the large high street lenders effectively closed their lending arms to new business and if you were lucky to get a business loan off them, you could consider yourself extremely fortunate. Even successive Governments have recognised this as a major issue to business growth which is why they are now (finally) promoting alternative finance as a much needed, yet viable alternative to bank lending.

What types of alternative finance are available?

The main types are commercial property loans or bridging loans to give them their most commonly used title and these loans can be used to buy any commercial or residential investment property.

It may be that you are looking to buy a new office, warehouse or factory in West Yorkshire and you need finance to purchase the building quickly before you secure longer term funding. Hence these loans, ‘bridge the gap’ and buy you time and allow you to complete your purchase quickly.

However, most small Yorkshire based businesses will probably require a different type of funding to allow them to grow their business. You can now find alternative finance providers who will help you with buying stock or machinery, pay you upfront for your outstanding invoices, help you with cashflow and there are even some lenders who can provide you with a sort of rolling cash account which allows you to dip in and out of the fund whenever your business needs it.

Some lenders will even allow you to take a loan against your pension and some will give you a loan against your car or luxury watch.

The world of finance has literally been turned on its head by these new entrants and as one of the UK’s fastest growing funding providers, A1 Commercial Finance specialise in alternative finance Yorkshire.

My business is in Yorkshire, how do I apply for alternative finance?

Simple. Just complete the quick form on the right hand side of this page and one of our team will get in touch with you to get the ball rolling.