Whether you have plans to expand a business or you’re starting up a new venture, there is generally a time when a cash injection is required to help boost the business and increase profits.
Businesses can choose from a wide range of financing options, including business loans, credit cards, business overdrafts, debtor finance, and more. Interest rates will vary depending on the type of business you’re in and the purpose of the finance you’re seeking. Banks, building societies, peer-to-peer lending, and other financing sources will all offer different options with distinct advantages. Therefore, knowing precisely what you need is key. Below, a few successful Bartercard members share what you need to consider.
Bartercard is an innovative credit solution
Having readily available cash is certainly ideal, and you may not want to commit your rainy-day funds on a project or expansion. This is the reason why a business loan is the most common form of lending.
Business loans may be secured, unsecured or peer-to-peer, and offer repayment certainty via flexible terms so you can avoid the need for additional investors. However, any form of lending will frequently come with early repayment fees which can be a burden, as you may need to provide regular paperwork and statements to the lender to ensure your business will continue to meet the financial demands of the loan.
Bartercard can offer an alternative solution. Bartercard offers all its members an interest-free line of credit when they join the Bartercard community, allowing you to immediately start trading and making purchases even during times when cash flow has slowed—perhaps during seasonal markets or when a business experiences a dip in sales. This way, members can conserve cash while always having access to the goods and services available through the Bartercard community.
What do Bartercard members have to say?
The credit limits offered to Bartercard members are reviewed regularly and can be extended or reduced depending upon the member’s trading history within the exchange. Members can also apply at any time to be considered for a credit limit increase. This has helped numerous members expand their business and thrive in their respective markets.
“Bartercard has been the making of our business. If it hadn’t been for Bartercard when we were stock heavy, I’m not sure how we would have survived. Selling excess stock on trade was the key success at the time and the additional extensive sales have allowed my business to thrive.”
– Marg Farrell, The Design Project
“Hotels have the most perishable stock on the planet – if we don’t sell a room tonight, it’s never available for sale again. Most retailers, if they don’t sell their product today, it’s still available for sale tomorrow. It’s not the case with hotels, the sale is lost. Bartercard is another tool we use to ensure those rooms are full and don’t sit empty.”
– Peter Tennent, The Devon Hotel
“Our long-standing business had been a food and confectionery factory, manufacturing predominantly fudge and other associated products, with a small factory shop. The dream had been to grow the business into an integrated factory & café and retail shop with a higher profile, to increase our reach to a direct customer. Without Bartercard, we would not have been able to achieve this. With the interest-free line of credit, we were able to pay for a large amount of the expansion costs on Bartercard.”
– Linda Bryan, Rococo Café/Cottage Fare Ltd
Finance your business with Bartercard
For more information on how Bartercard’s interest-free line of credit could be a boon for your business, contact us today!