The overall UK inflation rate fell last month to hit single figures for the first time since August 2022. Inflation was 8.7% in the year to April – down from 10.1% in March but above the 8.2% figure expected.
This raised forecasts of how much UK interest rates will increase with some predicting that the Bank of England will have to raise interest rates to as high as 5.5% to try to slow price rises.
This impacted on UK mortgage deals with hundreds being taken off the market amid concerns about interest rates and mortgage rates rose.
Still plenty of lenders out there for businesses
In spite of what is happening in the consumer market though, there are still plenty of lenders out there who are willing to lend to businesses, although these don’t tend to be the mainstream high street banks.
Business Funding is a service which Cowgills provides to both internal and external clients.
What types of business funding are available?
There are many types of business funding and our team are highly experienced when it comes to sourcing the correct funding for you.
There’s no ‘one size fits all’ product and different products suit different businesses and industries.
It can be difficult to structure the right deal that works for the client and not just the lender but our Funding Director Ben Day will explore and guide you through your options and make sure you get the best deal from our extensive network of providers.
To find the right funding option for your business getting the right advice is essential.
Get in touch with Ben today at Benjamin.day@cowgills.co.uk, or contact us via our website right here.
Disclaimer
The information was correct at time of publishing but may now be out of date.
