Rating based on 54 reviews

Business loans offered by Economic Solutions

Updated

Economic Solutions homepage

Author Economic Solutions. Screenshot of Economic Solutions website. [Accessed March 22, 2020]

About Economic Solutions

Economic Solutions are a full-service financial company that measures our success through the success of our customers.

Our goal is to give you financial freedom by providing you with personal finance options and providing you with access to specialists who understand your needs.

We want to make Economic Solutions the preferred destination of choice for our customers by delivering outstanding service and product 

You're different and so are we

At Economic Solutions we believe in building a company of people with different backgrounds and diversities, well defined experience and unique points of view. This way, we can better understand how to exceed your financial needs and expectations. One thing all of our staff has in common? We are helpful, friendly, fun and accommodate each client individually.

We are committed to the communities we serve

Economic Solutions services clients in Greater Manchester and the North of England, however, we also provide services elsewhere in the UK and also have business operations internationally. We are committed to strengthening the local communities we serve by providing access to unique business finance solutions.

Economic Solutions Services

If you meet the essentials any bank searches for in considering a business loan for little companies, we've incorporated a couple of tips to place you in the best position.

Keep in mind, banks need to make large business loans to large companies; that is their central goal. While in fact, numerous loans are denied on the grounds that a candidate's company is a commendable risk and their shareholders do not have sufficient resources to put up as security.

Rely on connections:

For a business loan, it's imperative to influence any current relationship and reputation you may have with a bank or banking officer. This incorporates your personal banking action too. Your chances of achievement are much higher in the event that you have this sort of positive history with your finances. Also, you may have the capacity to get beneficial evaluating on your loan in the event that they see you as an "esteemed customer" whose business they need to hold or grow.

Build on achievement

If you're looking for a loan for a business that is in a sector in which you have a reputation of achievement, make sure you highlight that in your pitch to the loan officer. This constructs confidence that you are experienced and prepared to work successfully in this field of business.

Economic Solutions Product Details

  • Loan Type Business loans

Summary of Services

  • Help your business grow
  • Skills development

At Economic Solutions we are commited to helping you grow your business

We are committed to high-quality service, are accredited in the financial world of lending as well as trusted by the people we serve.

We have a long history of active local engagement and support. Our commitment is reflected in our strong partnerships, sponsorships and ability to give our clients what they need.

Helpful hints when applying for loans

Be prepared to show the bank that you can pay the interest and most importantly the loan inside the appointed term. Have a solid handle on the financial articulations, and be prepared to put forth a solid defence of how the current money streams in and out of the company, and/or the anticipated future money stream, will be more than sufficient to cover the instalments.

The bank will need to survey the anticipated debt-to-income and debt-to-total assets ratios. For instance, a solid hopeful company will have close to a 3-to-1 power degree of debt to unmistakable total assets. Further, you ought to be prepared to talk about the affectability of the capacity to reimburse the loan, where the risks are and what your fall-back arrangement is on the off chance that things don't work out as expected.

Put skin in the amusement

The closer your business is to a genuine "start-up," the more probable it is that the bank will request a personal surety on the loan. Be prepared to venture up to the bank accepts that you won't have an issue giving the security.

Paint the picture

For the financials, banks like to see an income explanation, accounting report, profit and misfortune proclamation on a collection as opposed to a money premise. Additionally, make sure your business plan and your financial records are clear, precise and accessible at the time you make your loan demand.

Customer Reviews & Testimonials

September 2019

Economic Solutions remains my chosen favourite because they offer affordable loan packages.

Thomas M
— Sheffield —

May 2019

I was able to get a good credit loan deal at Economic Solutions because they aligned it with my budget.

Ethan P
— Oxford —

Economic Solutions Contact Details

Physical Address

  • Churchgate House, 56 Oxford Street, Manchester North West England M1 6EU United Kingdom
  • Get Directions

Opening Hours

  • Monday 08:00 – 22:00
  • Tuesday 08:00 – 22:00
  • Wednesday 08:00 – 22:00
  • Thursday 08:00 – 22:00
  • Friday 08:00 – 22:00
  • Saturday 08:00 – 22:00
  • Sunday 08:00 – 22:00