Why Turn to Cash Kitty for Short Term Loans for Bu

Created: 2016-11-07 08:00:00

Banks or traditional lenders will always look for the perfect borrower. Small businesses are always looking for the most generous and considerate lender. The irony is that the two parties are looking at diametrically opposite and essentially contradicting factors. What is good for a borrower will never be good for a lender and vice versa.

There are banks, nonbanking financial companies, publicly listed lenders and private firms offering short term loans in the UK. Compare loans in UK and you can gauge which ones are better but you must first qualify for the loans. When you need short term loans for business, propositions of Cash Kitty would be more suited.

Banks look for businesses or enterprises that have a relatively sound financial profile, the need for the loan should make sense to the lender and the ability to repay draws the most stringent focus. Small businesses would often need some financial aid for overhead or recurring costs. Many banks or traditional lenders may not concede such needs as worthwhile for them. They are more interested in loans directed to develop tangible assets.

Banks and traditional lenders are obsessed with details. They want to know what a company does, why the small business loan is needed and how exactly it would be spent. Banks want to know how the company manages to make the money which will go in the repayment of the small business loan. Showing a good cause for a small business loan is not sufficient, one also has to show monetization by the virtue of that loan and how the company would generate profits or revenue to repay the loan. Cash Kitty is more lenient in these regards.

Banks are stringent about assurances. Security or guarantors, bank statements and financial history are the foundation based on which a small business loan is approved. Cash Kitty is more flexible and lenient in these regards as well.

Warning: Late repayments can cause you serious money problems. For help, go to moneyadviceservice.org.uk