A DELPH-BASED entrepreneur has launched into 2014 with a new business to help small limited companies that need access to quick, short term cash.
Phil Allingan has set up Kwik Business Cash to provide a solution in a matter of days to the problems many businesses nationwide encounter trying to get bank loans.
He explained: “Over the past five years through my other company, Business Advice Services, I have seen how difficult it is for small businesses to get cash quickly.
“Banks say they are lending to small businesses but my experience is that they are either not lending or if they are it takes weeks, if not months.”
Instead, Kwik Business Cash has a number of products that can release amounts from £10,000 to £1,000,000 very quickly – including advancing up to 100% of a company’s monthly credit card machine turnover.
Phil said: “This is really great for shops, pubs, restaurants or online businesses that take a lot of their income from debit or credit card payments, or even through Paypal.
“The best bit is that repayments are made as a small percentage of future card transactions so if a business has a quiet month it pays back less and if it has a busy month it pays back more.
“We are not really interested in what the business needs the money for. We are only looking to see if they can repay it.”
Other types of finance available include invoice finance, asset finance and small business loans, all with the emphasis on paying the cash out within a few days of the application.
Helping other businesses is also at the heart of Phil’s other company, Business Advice Services, set up around five years ago to help limited companies in arrears with HMRC.
Phil commented: “If a business is in arrears with HMRC it can be daunting and often time consuming to deal with them”.
“We take that stress and strain away from directors, leaving them to concentrate on the day to day management while we come up with a few different options to deal with the arrears.”
Phil launched his first business 20 years ago aged 22 then from 1997 spent ten years as Sales Director at telecoms company Eurotel until it was sold in 2007 for £44million.
He has also built close relationships with wealthy individuals who are keen to invest in small businesses in return for an agreed percentage, as well as offer guidance and contacts.
For more information about Kwik Business Cash visit www.kwikbusinesscash.co.uk or call 01606 866281. To find out more about Business Advices Services, visit www.businessadviceservices.co.uk or call 01606 545058.
You can get in touch with Phil directly by calling him on 07855 101010 or emailing phil@businessadviceservices.co.uk
All discussions are totally confidential and without any obligation.
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