Your Business

Commercial loans

Russ Watts  •  26 May, 2021

Need a commercial loan to grow your business?

If you’re looking for a commercial loan to assist with cash flow and grow your business, then a line of credit based on your outstanding invoices could fit the bill. At Waddle, we’ve built an invoice finance platform that connects seamlessly with leading accountancy platforms, giving businesses access to fast funds.

Compared to traditional invoice finance facilities, it’s faster, more flexible and much easier to manage.

Invoice financing - a flexible type of commercial finance

Waddle helps businesses achieve their ambitions by accessing funds tied up in unpaid invoices. Using a custom-built invoice platform which syncs with leading accounting packages, Waddle offers a fast, fair and flexible way for companies to close cash flow gaps.

Compared to other invoice finance products, tedious admin is vastly reduced thanks to the accountancy platform integration. No more uploading of invoices or hours spent each week reconciling customer payments. The Waddle platform does all the hard work.

Here’s how to get started. Click ‘Get a quote’ and we’ll ask you a few details about your business. You’ll need to connect Waddle with your accounting package or upload some information relating to your invoices and we’ll present you a quote. At this point, you’ll get to have a look around the Waddle dashboard. As you nominate customers, you’ll see that your available balance grow.

Next, we’ll be in touch for a quick and easy credit check and then we can get you up and running as quickly as 48 hours. You can draw down funds with the click of a button from the dashboard and funds will be in your account the next day. Your customers pay their invoices into a bank account Waddle sets up in your name and this repays your loan, increasing your available balance meaning you can draw down on the credit line again and again.

Types of commercial finance

Commercial business loans are used by business owners for a variety of reasons. It can be used to fund large capital expenditures, such as property or equipment or to cover operational costs and day-to-day working capital needs. The most suitable type of business finance will depend on the needs and situation of the business applying. What the loan is for, how much is required, their ability to repay, their financial history and how long they’ve been trading.

Commercial finance is offered a wide range of providers from traditional banks to online lenders. Big banks are typically more suited to established organisations and generally offer credit lines or loans with fixed repayments, secured against assets such as property or equipment. Smaller non-bank lenders are a preferred option for many small and medium-sized businesses. Whilst interest rates may be higher and loan amounts smaller, they are easier for less established companies to get approval with the application more streamlined and funds available within days. These lenders offer short term unsecured loans, as well as specialised types of finance like invoice finance and equipment finance.

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