Introduction

Every business, at some stage in its lifecycle, will get tripped up by the unexpected. Either there is an invoice that’s unforeseen, or a business opportunity arises, which requires immediate action.

Traditional routes to finance are often not suitable in such circumstances because security is often required, and applications for funds can sometimes take weeks. Fortunately, it is possible to obtain funds with 48 and sometimes 24 hours, however, there is a significantly higher cost to this.

Key Tips

• If your need for emergency cash is as a result of an unexpected invoice, before applying for finance, have you tried negotiating with your supplier/creditor as to the terms of payment of the invoice? Can you postpone payment? Can you pay in instalments?
• Due to the significantly high costs of obtaining emergency finance, have you considered borrowing from other sources such as family or friends?
• Have you considered whether your need for emergency cash is more of a structural issue (see Self Assessment, because if it is, then such type of borrowing may add to your problems.

Specialist Finance

There are a range of specialist finance providers that offer emergency cash funding. Take a look at our Informed Funding Guide on Cash Advances. Alternatively, Business Credit Cards are a flexible way of obtaining short term finance, so take a look at our Informed Funding Guide on Business Credit Cards.

The information contained within this note represents just one set of views when it comes to dealing with emergency cash needs. No responsibility is accepted by Informed Funding for any losses or profits foregone by acting on or refraining from acting on any information contained within this note or any other information to which this refers. Before making any decisions concerning the financing of your business or enterprise, you should consult a professionally qualified accountant or other appropriate individual.

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