When you’re in an unexpected cash flow slump, getting access to finance quickly is the difference between staying afloat or falling behind.
Most traditional lenders take time to approve loans, and the process is not always straightforward. So you need to know what your other options are.
Accountant Jason Andrew explains the four most common alternative finance routes, their benefits and disadvantages, and how you can calculate what works best for you.
This article covers:
- Invoice financing, trade finance, working capital finance, and asset finance;
- How to accurately calculate the true cost of a loan; and
- Why being better prepared with information will lower the amount you pay back.