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Business Finance

Start-up loans & finance

Starting a business often requires capital before revenue becomes established. Explore finance options that may help fund equipment, stock, vehicles and other start-up costs.

Finance at a glance

Key details to help you understand this finance option at a glance.

Purpose

Support eligible new and early-stage businesses

Finance amount

Subject to lender, product, affordability and business-plan assessment

Finance term

Varies according to the selected finance product

Suitable for

New and early-stage businesses seeking funding to establish or develop operations
Key note
Start-up finance can be more difficult to obtain because there is limited trading history. Personal credit, affordability and the business plan may be important.

What is start-up business finance?

Start-up finance refers to funding options available to new or early-stage businesses that need capital to begin trading or develop their operations. Funding may be required for equipment, vehicles, stock, premises, technology, marketing or working capital. Because new businesses have limited financial history, lenders may place greater emphasis on the business plan, forecasts, experience of the owners, affordability and personal credit information.

How does start-up finance work?

The available options depend on what the business needs to fund and the strength of the overall proposition.
01

Build the funding requirement

Define start-up costs and how much external finance is needed.
02

Prepare the business case

Business plans, forecasts and information about the owners may be required.
03

Explore suitable finance

Consider options based on the purpose of funding and available lender criteria.
04

Apply and complete

Subject to underwriting and approval, the selected facility can be completed.

What can start-up finance be used for?

New businesses can face several significant costs before reaching consistent revenue.

Equipment

Purchase machinery, technology and other essential business equipment.

Commercial vehicles

Finance vehicles required for trading and service delivery.

Stock and inventory

Purchase initial stock required to begin trading.

Premises and fit-out

Support eligible costs associated with establishing business premises.

Marketing and launch costs

Fund activity needed to introduce the business to customers.

Working capital

Provide liquidity while the business develops regular revenue.

Benefits of start-up finance

External finance can reduce the amount of working capital that founders need to commit upfront.

Fund initial investment

Acquire the assets and resources needed to start operating.

Preserve cash reserves

Avoid directing all available founder capital into a single purchase.

Support early growth

Provide additional capital while the business develops its customer base.

Match finance to the requirement

Different products may suit equipment, vehicles or general business expenditure.

Who might consider start-up finance?

Start-up finance is intended for businesses with limited trading history but a credible commercial plan and funding requirement.

New businesses

Companies preparing to launch or recently started trading.

Entrepreneurs

Business owners with a defined plan that requires additional capital.

Early-stage companies

Businesses investing to establish a stronger operational base.

The Somerset process

A straightforward, supportive process from initial discussion to completion.

01

Understand

We take time to understand your business, your goals and your finance requirements.

02

Explore

We assess your requirements and explore suitable finance options from available lenders.

03

Apply

We support you through the application process and liaise with the lender as required.

04

Complete

Once the finance is approved and completed, you can move forward with your business plans.

Why Somerset Financial?

Straightforward support to help you explore suitable business finance options for your circumstances.

Finance options explored

We help you explore finance options based on your business requirements and circumstances.

A personal approach

We take time to understand your business, objectives and funding requirements before exploring suitable options.

Tailored to your business

Finance requirements vary from business to business, so we focus on options relevant to your individual circumstances.

Clear guidance

We explain the available options and process clearly, helping you make an informed decision.

Support through the process

We support you through the application process and liaise with the finance provider where required.

Focused on your objectives

Whether you are investing, replacing equipment or managing cash flow, we focus on finance options aligned with your business objectives.

Start-up finance FAQs

Common questions from new businesses looking for finance.

Related business finance options

Explore other finance options that may also be relevant to your business requirements.

Ready to discuss your business finance requirements?

Speak with Somerset Financial about your requirements and explore finance options that may be suitable for your business.

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