A VAT commercial loan is there for when you require it and keeps cash flow strong. This is for businesses that are Limited, LLPs, or PLCs. They are a form of short-term borrowing commonly over 3 months and reduces large lump sums business have to pay in one go. As the loan is a short-term way of borrowing the amount of interest payable is less as the time for which the money is outstanding is lower.

The Pinnacle Business finance broker will collect the information from the business to make sure they are eligible to negate any time being wasted. This will commonly be Up to HRMRC, Last Annual accounts, and 3-6 months’ worth of business bank statements. This, therefore, makes it a quick and easy finance option for a business applying. Repayments can be done on a weekly or monthly basis depending on the business requirements and how strong their cash flow is or how quickly they would like to repay the funds.

When a business starts it will be categorised as a small business and the type of loan you are eligible for will vary greatly. An unsecured loan over a short time frame may be the best option as you need capital to start your plans off but once the business has grown there may be little requirement for further funding. A secured long-term loan over 5 years for example may be what the business requires. In each of these circumstances, Pinnacle will be there to talk through the options available and have seen thousands of small businesses flourish and grow as a result of business loans.