Finance to fuel your Recruitment business

Choosing the right finance solution for your recruitment agency depends on your needs, financial situation, and future plans. Think about what you need funding for to work out which option could work best for your agency:

• Managing cash flow: Invoice finance allows you to unlock funds from unpaid invoices, ensuring you can pay staff and cover operational costs without waiting for client payments.
• Long-term investments: Unsecured business loans provide larger lump sums for office expansion, hiring new staff, or upgrading technology.
• Buying assets: Asset finance can help you purchase essential equipment, like IT systems or company vehicles, without significant upfront costs.
• Flexible access to funds: A revolving credit facility acts like an overdraft, providing short-term funding that can be used and repaid as needed.

Whatever your reasons for wanting funding, Aurora Capital can help you find the right solution. Speak to us about your growth plans and learn more about our funding solutions today.

Whether your agency qualifies for recruitment finance primarily depends on the type of credit you’re applying for.

Different borrowing options have different requirements. At Aurora Capital, we work with businesses that meet the following criteria:

• 6+ months of trading history
• £100,000+ annual turnover
• Based in the UK
• £10k – £5m funding requirements
• Positive credit history

If you have a low credit score or your recruitment agency is a startup with no extensive history, this doesn’t mean you won’t be eligible for business funding. We work with various lenders that provide finance to companies with adverse credit.

Making an application is the easiest way to determine if you’re eligible for finance. Applying with Aurora Capital won’t have a negative impact on your credit score, so there’s no risk in submitting an application to see what options are available to you.

The amount you can borrow will depend on several factors, including your credit history, asset value, and the type of finance you choose.

• Credit score: This is one of the most important factors lenders consider when deciding how much to lend you. If you have a good credit score, you are more likely to be approved for larger loans with better interest rates.
• Business size: Many lenders will evaluate the strength of your business based on your turnover and profit. Lenders will be more willing to lend if you can show your business is growing and can repay the loan.
• Type of finance: Each option can have different borrowing limits. For example, a secured loan could allow you to borrow more money than an unsecured loan. If you choose invoice finance, the amount you can borrow will depend on the value of your outstanding invoices.

At Aurora Capital, we understand that every recruitment agency is different, and we work with our clients to find the finance solution that best meets their needs.

Whether you need to borrow a small amount to cover short-term expenses or a larger amount to fund expansion, we can help you find the right finance solution for your recruitment agency.

We’re committed to helping recruitment agencies like yours grow and thrive. Here’s why you should choose Aurora Capital for your recruitment finance.

Wide lender network

We have over 50 commercial lenders in our network, which means we can offer you a wider range of finance options to suit your needs and help you achieve your goals.

Our network includes lenders willing to work with companies with poor credit histories or just starting out. This means that even if you’ve been turned down for finance in the past, we may still be able to help.

Quick loan application

Our application process is quick and easy; taking just minutes to complete. We provide quick decisions, with many approvals granted within hours rather than days, ensuring you get the funding you need without delays.

Once approved, funds can be transferred to your account in just a few days, helping you move forward with your plans as soon as possible. Most importantly, applying with us does not impact your credit score, so that you can explore your finance options confidently and without risk.

Personalised service

Whether you need finance to cover day-to-day expenses, invest in new technology, or expand your team, we can help you find the right solution.

Our team of experienced brokers will work with you to understand your business and financial needs and match you with the lender that offers the best terms and most competitive rates.

Before you apply for credit, it’s important to understand what lenders look for when evaluating loan applications. Here are some common red flags that lenders may look for:

• Poor credit score: Lenders will typically check your credit score to determine your creditworthiness. If your score is low, it may be a red flag that you’re a risky borrower.
• High debt-to-income ratio: This is the amount of debt you have compared to your income. If your ratio is too high, it may indicate that you’re overextended and may struggle to repay the loan.
• Inconsistent income: Lenders want to see a stable income that can support loan repayments. It may be a red flag if your income is inconsistent or unreliable.
• Trading time: Some lenders require you to be trading for a certain amount of time, so this is something to consider if you are a newly established business.
• Poor business performance: Lenders may look at your business’s financial performance to determine whether you’re a good candidate for a loan. It may be a red flag if your business is struggling or has a history of poor performance.

Some lenders work with businesses with adverse credit histories, meaning that whilst there may be red flags, you might not necessarily be turned down.

However, it’s still helpful to understand what lenders look for so you can make your application as strong as possible and increase your chances of getting approved.

Yes, some lenders are willing to fund businesses with poor credit histories. While a low credit score may limit the options available or result in higher interest rates, finance is still available.

Invoice finance is often a viable option since funding is based on the value of unpaid invoices rather than credit history. Secured loans may also be available if you can provide valuable assets as collateral.

Some lenders may require a personal guarantee to offset risk. Improving your credit score before applying can help secure better terms, but bad credit doesn’t necessarily mean finance is out of reach.

Here are a few ways you can look to boost your credit score before you start an application, including:

• Checking your credit report: Make sure your credit report is accurate and up-to-date. If you notice any errors, dispute them and get them resolved.
• Paying down debt: If you have high balances on credit cards or loans, paying them down can help improve your credit score.
• Making payments on time: Late payments can negatively impact your credit score. Always pay on time and in full to avoid any penalties.
• Not applying for too much credit: Applying for several loans or lines of credit at once can lower your credit score. Only apply for credit when you need it, and wait at least three months between applications.

Even new recruitment agencies can access finance, though options may be more limited. Unsecured business loans and invoice finance are often available for startups with a strong business plan and healthy revenue projections.

Some lenders may require a personal guarantee or a higher interest rate for newer businesses. You may qualify for more competitive finance options if your agency has been trading for at least six months and meets turnover requirements.