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ACCESS TO FINANCE: Navigating a perfect financial storm

This autumn businesses will face a perfect financial storm; rising energy prices, the cost of living crisis and banks struggling to support companies as they may have in the past, due to the impact of the pandemic.

For many SMEs, the routes through which they may have traditionally accessed financial support are now either closed or limited and business owners are struggling to find solutions that address many pressing needs.

There has never been a greater need for businesses to work with alternative providers of finance, yet so many are not aware of their options outside the banks, or how they can access such alternatives.

Demystifying Alternative Finance

Paul Tricket, BDM at Bathgate Business Finance, said:

“At Bathgate we aim to demystify alternative finance options and make them easier for businesses to access. Many of the products we work with are not well-known by many business owners and can be game-changers in the current climate.

Alternative finance options that Bathgate are currently seeing a need for include Merchant Cash Advance (MCA), which is ideal for retail and hospitality businesses, and others that take payments via card terminals and online, as MCA funders connecting their technology to your bank and card acquiring data and base lending on turnover of monthly card receipts.

“MCA in particular suits businesses in recovery – as many are – but also seasonal businesses,” Paul explained. “This is because repayments fluctuate as a percentage of ongoing card receipts, rather than being a fixed amount each month like a term loan.”

Non-traditional energy-related finance solutions are also a key option for the autumn and winter ahead, which can provide loans for businesses struggling to meet escalating costs of new energy contracts, breaking down higher deposits into more manageable payments over three – six months.

Fast Turnaround

As well as addressing current business challenges, speed of accessing finance is also vital to pressed businesses.

“Dealing with sudden and unprecedented changes like the energy crisis and the pandemic means that business owners often need funding yesterday and fast turnaround is vital,” said Paul.

“Alternative options can often deliver on this in ways that traditional finance options cannot.”

Illustrating this, Bathgate works with a funder that helps companies with R&D Tax Credit submissions, then loans them the amount that is owed within days. This removes the burden of the six – 12 weeks for the money to arrive, supporting cash flow until the tax rebate arrives and the loan can be settled.

Trusted Advisors

Perhaps most vital to understanding and accessing alternative finance options, however, is the support of a trusted advisor or advisors so they can match your businesses’ needs and specific circumstances to the best solution.

“Navigating the range of options available isn’t easy and working with a trusted advisor can significantly reduce the burden of finding the best solution,” said Paul.

“At Bathgate our approach is to take time to understand our clients’ business and market, then accessing our team’s wide pool of expertise and network of contacts to tailor a solution that resolves immediate needs and also supports longer term plans. There is finance out there to support most businesses, and experts like our team at Bathgate are there to help them find the right match.”

Bathgate Business Finance sources finance from an extensive range of alternative and traditional funder partners, as well as offering own-book lending. For more information visit or contract Paul Trickett on or 07469 140 180