Tax season is naturally always a stressful one for all business owners, even more so during these times where the cost of living has become untenable. For many business owners, tax season can often mean paying out a large sum in one fell swoop which can often feel like a burden. Luckily, there are ways to spread this cost over a period of time to make this payment less of a shock to the system. Some finance companies allow you to spread the cost of tax and insurance bills over the 12-month period.
The requirement to pay large bills in one lump sum can cause an incredible strain on your business finances. This is particularly true of SMEs (Small and Medium Enterprises) who may not have these larger sums available as disposable cashflow. This can be where Peer-to-Peer financing can come in.
As we have discussed in recent months, certain peer-to-peer financing companies offer SMEs an alternative and faster way to access finance in order to assist them in maintaining a healthy cashflow in the face of rising costs. These Peer-to-Peer finance providers often provide loans from as low as €5,000 to as high as €500,000 with less paperwork than the traditional lending avenues and offer a faster result time with a flexible repayment plan.
One of the main benefits of Peer-to-Peer lending is that there is no penalty for early or lump-sum repayment. P2P lenders often also offer immediate drawdown upon acceptance.
There are many of these lenders currently available to assist you and your business during these trying times.
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