If you want practical and up to date advice on accessing the Coronavirus Business Interruption Loans Support call us on 07796 800 187. If you want practical and up to date advice on accessing the Coronavirus Business Interruption Loans Support call us on 07796 800 187.

COVID-19 Financial Support - CBILS

The finance and business consultants at RBSS are currently helping clients with applications for the Coronavirus Business Interruption Loan Scheme (CBILS) for companies in London and Essex. If you want to know if you are eligible for this business loan, please click here.

​Once you fit the eligibility criteria, you can access the business loans from any of the following finance organisations. However, our advice is that you approach your bank first if they are one of the approved CBILS loan providers.  As finance brokers, we can also introduce your business to an approved funder.

Once you have determined which business loan provider you want to use, we can help you with the business case, the cash flow forecasts required and completing some of their forms. We have worked successfully with a number of clients.

What are the funders asking for? Whilst there is no consistency in what funders are asking for, the following is a comprehensive (not exhaustive) list:

1. 2 years management accounts (Profit and Loss & Balance Sheet)
2. Year to date management accounts
3. 6 months business bank statements
4. Cash flow forecast for the next 12 months
5. Statement of means
6. Loan amount required and breakdown
7. Viability of the business before and after COVID19 impact

 
 As finance and business consultants we will help you put the business case and cash flow forecast together. If your accountant is not able to do you management accounts, we can give you a list of qualified accountants to choose from or recommend one to you.
 
Please contact us on 0333 355 1696 or email the principal finance and business consultant: remi.okeshola@rbssconsulting.com.  We can help.

COVID-19 Financial Support Romford | COVID-19 Financial Support Hornchurch | COVID-19 Financial Support Brentwood | 
COVID-19 Financial Support Barking | COVID-19 Financial Support Dagenham | COVID-19 Financial Support Ilford | 
| COVID-19 Financial Support Stratford | COVID-19 Financial Support​ London

Let RBSS Consulting help you raise finance for your business

​Every business requires money to function properly. If your business is not making money, it’s called a hobby. Perhaps you need help to raise money for your business. At RBSS we understand that you are not only in business for a higher good, but also to generate a profit. There are a number of steps you must take to get to the point where you can ask for a loan from banks, angel investors and alternative funders with confidence. It very much depends on how much business finance you need, what stage your business is at (start up, pre-revenue, over two years old, limited company, etc), what you need the finance for, what kind of business finance it is and when you need it. You must show the lender that you have a viable business idea and if backed, they will receive a mutually agreed return on investment (ROI). 

We offer consulting to start-ups and existing businesses. Our consultants can help you raise money by becoming 'finance ready' first. Our aim is to help you get the right business finance, at the right rate and the right time. We will need to do some pre-funding\investment stage diagnostics, advising if a business loan, equity funding or an alternative form of business finance is a better option for you, considering all the due diligence requirements, etc. This also means that you may need to do some homework, by preparing a business plan that fleshes out your ideas and demonstrates the research you have done on your competition. Amongst other things, you will also need a clear marketing strategy. We will walk you through and help with all the above and other requirements to make it as least daunting as possible.

Every business is different so the finance and requirements that is suitable to you will also be different. Will you ask your friends or an angel investor? Will it be a traditional or alternative funder? If you have good credit, liquid assets and collateral banks have viable options for entrepreneurs. If you don’t have a near perfect credit score and collateral or security, then perhaps our alternative funders, angels, venture capital firms or crowdfunding may be more up your alley.

​Consulting to Startups 

There are various alternative sources of finance for both start-ups and existing firms that we can introduce you to. Our experienced Business Consultants work with these funders all the time and know what they want. We can pick up the phone in awkward and less straightforward situations and speak directly to decision makers.  Once you consult with us, we will be able to determine which finance source is the best option for you. As independent brokers and introducers, our loyalty is to you and what’s best for your business. We add value by ensuring you get the best rates for the best kind of finance. The outcome may be very different from what you thought you could get, simply because these companies are not high street funders, or they only work with trusted brokers and introducers like us.​

Let's help you raise finance

What types of access to finance are there for start-ups, micro and small businesses?

We offer consulting to startups, micro and small businesses. There are a number of ways for you to raise finance for your business. Here we explore the common avenues:

Peer to Peer Lenders (P2P)

One of the more innovative, modern day forms of raising funds is the practice of lending money to individuals or businesses through online services that match lenders with borrowers. This method is preferable for more established businesses trading for at least two years and gives them an opportunity to raise funds from private investors.  RBSS works independently with a number of these P2P lenders and can help you access finance with more certainty of success.
​
If you are overwhelmed by all of these options and don't know what to do next to raise finance for your business, not to worry, that's where our business advisors in Romford can help you. 

Merchant Cash Advances

This is a source of cash available to your business based on bringing forward your future credit and debit card sales. You can raise up to 150% of your future credit and debit card sales. The amount you have to repay will fluctuate depending on how much you process through your terminal. This means that on a slow day you will pay back less and on a busy day you will pay back slightly more. It is finance that works with the dynamic of your business.

Angel Investors/Equity funding

An angel investor is any person who makes a financial contribution to a start-up, micro or small business. This is also known as equity funding. An angel investor may like your idea so much that they request a stake in your business. They may stipulate that they be a silent partner or receive a percentage of the profits over a specified period of time. Business angels usually have excellent knowledge in running a business and you can benefit from the experience and their networks. You must ask yourself if this approach is right for you.

​Venture Capital Firms​ 

Venture capital firms love to work with start-ups that have long term growth potential. They are looking for young businesses that stand to generate large amounts of revenue and higher than average profit margins. If your business is a good candidate for a venture capital firm, we will present your plan to venture capitalists around the world. We live in a global society and there is no point in limiting your financial growth to local investors. These firms are more lenient in terms of ignoring any personal financial shortcomings. They are more interested in a revolutionary concept.

​Crowdsourcing

We find that crowdfunding or crowdsourcing as is alternatively referred to is a viable option for inventors. If you have an amazing new product that is non-existent on today’s market or will have a tremendous impact on humanity, crowdsourcing campaigns are successful for such businesses. Service based businesses don’t generally do well on crowdsourcing websites. Creative projects like films and visual art have a great opportunity with crowdsourcing. If you have a revolutionary product or visual art project you’d like to launch, RBSS works closely with some of the top crowdfunding platforms and can assist you in preparing your crowdsourcing page. We have access to videographers and marketing experts that will make sure your page is shared with as many people as possible.

Banks loans​ / Start-up loans

Bank loans are the most traditional sources of financing available. The drawback of requesting funding from banks is that they require you to jump through what can seem like endless hoops. Traditional banking institutions will request collateral, assets and near perfect credit, before they will even consider your request. The same stringent process will apply to individuals seeking start-up loans.​

Invoice and Asset Financing

Flexible overdrafts and Revolving Credit Facilities - Many banks are reducing or removing overdrafts from small business or offering them at unfavourable rates.  Business overdrafts can be a really useful way of accessing a working capital buffer when you need the cash quickly. For other businesses, they’re more like a safety net that is used rarely, but invaluable in times of need. We can help you access overdraft facilities where you are only paying for what you use. Revolving credit facilities are similar to an overdraft. You get a pre-approved limit that is ready to go at any time. This translates to giving you the flexibility of dipping into it at any time and only paying for what is used.

Unsecured Loans

​An unsecured business loan is a funding solution which requires no personal or business asset as collateral. They are supported only by the borrower's creditworthiness.  In most, but not in all cases a personal guarantee may be required. The terms of such business loans, including approval and receipt, are therefore most often contingent on the business owner or director’s credit score and the credit score of the business.  Unsecured business loans usually have fixed repayments over a period of between one and five years, with a higher interest rate for shorter-term loans. However, you must still meet income and credit requirements. Unsecured business loans can range from £1,000 to more than £500,000, depending on the size of the business and its credit rating. Some lenders may also offer businesses a revolving line of unsecured credit. You can be a sole trader or a limited company to access unsecured business loans.

Friends and Family

Do you have a friend or family member in mind that has access to copious amounts of capital? Do you think they’d be open to considering a proposal from you? Would this person(s) make a good business partner? These are queries we will pose while assisting you in securing start-up capital.​

We offer consulting to startups to help them raise finance for their business. Would you like to speak with one of our New Business Consultants?

​Call RBSS now for a consultation.

Still working on a business capital injection project with Remi. Always there to help me. Chris C

My father used this company when needing a loan with short notice. Remi was the one that helped him out throughout the whole process. I cannot explain how thorough he was. Definitely will be going back to him in the future. Meltem

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Raising Business Finance Romford | Raising Business Finance Hornchurch | Raising Business Finance Brentwood | 
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