If your business has a credit card, this can offer a good means of financing smaller equipment purchases. Only use your personal credit card if business credit is unavailable and remember to record the amount spent (including the interest charged for the credit) in the business books.
The benefits of having a credit card are:
If your business does not yet have a business credit card, you can apply to your bank for this facility. They have access to your business banking records and will use these to decide whether or not your business can afford to repay any monies borrowed. Your banking records and business credit rating will impact on whether you are granted a credit card and what the total amount is that can be borrowed. Only use your personal credit card as a last option. It is always better that the debt resides in the business rather than with you personally. Please read Understanding Personal Surety before taking out a personal loan for your business.
Finfind provides its services free of charge to businesses seeking finance. Our primary purpose is to link SMEs with all the relevant finance providers and finance products that match their funding needs. As a matching service we are not required to be a registered finance provider as we do not loan money directly.