Why bust funding myths...

By Anthony Persse, Director of Strategy.

The internet is a wonderful thing. After all who doesn’t love watching funny cat videos! But it has its downsides too, especially when it comes to finding clear and concise information about business funding. There is now so much information out there, that it is difficult to know what to believe and whose opinion to trust.

It’s led to a rise in ‘funding myths’ – untrue ‘facts’ that have been shared so many times that they have become indisputable. Often when we talk to a new customer, we hear these myths. I can’t count how many new customers have said to me, ‘oh, I thought getting a loan was going to take weeks and a mountain of paperwork!’

At Ultimate Finance, we have streamlined our application process and, using data in a smart way means we can approve our new Cash Advance in minutes. It really can be as simple as that.
Hearing these same myths over and over, we decided it was time we did something about it. Which is why we have launched our ‘myth buster’ campaign. We’re turning the most common funding myths on their head and setting the record straight.

Why, you might ask? Well, it’s because some funding myths are actually detrimental to the SME sector. Borrowing money is not difficult, and it’s also nothing to fear. It’s a normal element of business life and absolutely essential for cashflow management. But lots of small business owners have a ‘fear of funding’ and are scared to borrow vital cash that could help their business grow.

We want to eliminate that fear and show businesses in the UK the benefits of working with the right funding partner. If we can help dispel a few of these myths, we know that it will have a really positive impact on the SME community. Because good funding does businesses the world of good.

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