The UK manufacturing industry is amongst the top 10 largest in the world. Britain was the original birthplace of the industrial revolution and is still a powerhouse when it comes to manufacturing. The industry employs more than 2.6 million people and is a diverse sector.
Sourcing the most suited manufacturing business funding option is essential. The support and assistance from professional and experienced commercial finance brokers can ensure that you are getting the best available offer and product.
Why Your Business May Need a Manufacturing Loan?
At Elite Business Funding, we assist UK SME manufacturing businesses in several areas, cashflow is a common challenge for manufacturing SME’s with many being required to make regular payments to their suppliers while waiting for payments to be invoiced from their large customers.
- Expand the product range you produce – this will ensure that you seize every business opportunity
- Purchase manufacturing equipment and machinery – This can often require large upfront costs. Asset finance can help spread the cost to make it more manageable.
- Free up cashflow in existing machinery you may already own
- Purchase new software and replace legacy systems
- Employ new staff members – investing in your business is important, and by employing new staff members, this will keep daily business operations running smoothly.
- Bulk purchase raw materials – bulk-buying is always a good money-saving technique used by businesses and an area which is often overlooked.
The Manufacturing Sector
While the UK manufacturing industry is still a key driver of the British economy, manufacturers are now operating in a period of economic uncertainty which has resulted in a general slowdown in growth across the sector. There is a huge diversity in the types and size of manufacturing businesses each with their own individual challenges but what they all have in common is the need of staying competitive in the market. New technologies and an advancement in materials and machinery can assist with this but often can be costly. This is where a boost in capital maybe able to assist you in accomplishing your goals.
Why Borrow with Elite Business Funding?
At Elite Business Funding we have funded many SME’s from the UK manufacturing sector for a range of different purposes. By understanding how the industry operates and the challenges manufacturers face we are well equipped to assist you with your requirement for borrowing and we can advise on the most suitable option to ensure you get the best available product. Our business funding options are ideal for those seeking an opportunity to expand. We understand the demands that manufacturing businesses face and for this reason, we have specifically designed our manufacturing loans for a quick application and approval process.
How to Apply for A Manufacturing Business Loan
At Elite Business Funding, our business loans are simple and transparent, and we will match the best product to your requirement. There are no hidden costs, and we are upfront about how the approval process works. With years of experience in supplying business loans, even if you’re unsure about the loan process, it’s worth giving us a call and we can discuss your requirements further.
Interested in our business loans for manufacturers? Get in touch by giving us a call on 0203 966 5614 and speak to our team of experienced professionals!