Business services

Farming is a global and highly competitive business, with advancements in technology and consolidation making it tough to compete. A business loan can help you to buy capital items, such as a new piece of technology or new machinery, or to release some day-to-day working capital. It can also help with the purchase of livestock, feed and fertiliser. If you are looking to expand your farming business by acquiring new land or building new farm buildings, then a commercial mortgage or bridging loan may be suitable.

If you have outstanding invoices and late payments and need to improve your cashflow then invoice factoring, while incurring a cost, can provide you funds quickly. 

Manufacturing includes a diverse range of industries such as mining, quarrying, all types of engineering from aeronautics to car production, chemical industries, textiles and clothing, energy, waste management and food production. In the UK, the sector employs 2.6m people and accounts for 44% of total UK exports.

Starting and running a manufacturing business involves significant capital investments, such as machinery and premises, and operational costs from insurances, to raw materials, employees and utility costs. Sometimes you might need a short-term loan to improve cash flow, or a longer-term mortgage for property. In addition, manufacturing is a sector with one of the largest amounts spent on research and development. You may need finance to make sure you can continue to invest in new technologies and innovate to keep up with the competition.

The hospitality industry is the UK’s third biggest employer, providing work for 3.2m people directly and a further 2.8m people indirectly. Those wanting to acquire a hotel, or looking to refurbish or expand their hotel, will need to consider a commercial mortgage or bridging loan.

If you are new to the hospitality industry you can improve your chances of securing a commercial mortgage by selecting a hotel that is performing well, and by showing your experience in running and managing other types of businesses. You should have at least the last two years’ trading history of the hotel to show the hotel’s turnover, costs and profit levels. If performance has been poor, then you need to show the changes you intend to make and forecast the improvement this will have to profitability. These changes could be to your aesthetics, through a refurbishment, or your marketing plan.

The retail industry has had a difficult time recently, particularly the traditional high street, which has struggled against the convenience and price competitiveness of online shopping. The sector employs 2.9m people and there are just under 300,000 retail units in the UK.

Creating an exciting retail experience is essential to attracting customers and increasing your share of their spending. A business loan or commercial mortgage can help you achieve this, either through renovating your physical stores or investing in new technologies to give you an e-commerce site or an interactive shopping experience. You can also borrow to invest in your security, such as CCTV cameras, alarms and protection of your website and customer’s data.

In the UK, there are 988,000 people employed in the restaurant sector across 186,000 restaurants. The sector has had a tough time, with some well-known brands and chains having to close or call in the administrators during 2019. However, the increasing demand for plant-based food as consumers look for healthy alternatives, the desire for more unusual and individual dining experiences and a keenness to reduce food miles through local produce provides imaginative restaurant owners with options to open new and expand existing restaurants.

You can use a business loan or commercial mortgage to purchase or refurbish your restaurant.

If you are a sole trader, then any application for credit will include not only the financial position of your business, but also your own personal financial health. Like loans for other types of businesses, you can apply for a secured or unsecured business loan.