FAQ

Your feathered funding friend

Your feathered funding friend

FAQ’s

All your questions answered

Teal is a signposting service which aims to help small to medium businesses find finance for growth. We provide a simple, friendly, and straightforward service – no fuss, no jargon.
As well as finding the right finance provider for your business we offer other services where we can support you through the process and any applications you might make, but we give you the freedom to choose what level of support is right for your business.

We are all about helping existing businesses grow and make it to that next stage, whatever that might be. We’re best at helping businesses that have a bit of trading history behind them and are ready to take it to the next level.

If you are startup, our sister company Transmit Start-Ups may be better suited to help you with its Start Up Loans fund.

Teal is part of Transmit Group which specialises in providing business support, consultancy, coaching, mentoring and finance for small to medium businesses, entrepreneurs and non-profits.

Within the group is Transmit Start-Ups, a delivery partner for the government-backed Start Up Loans scheme providing Start Up Loans of up to £25,000 to businesses that have been trading for less than 2 years.

Growth finance is business finance targeted at growth stage businesses. Growth stage businesses are those businesses which have gone beyond the startup stage and are now ready to take the next step in their growth and development. Each business is different so it is difficult to put a concrete timescale on when a business is in the growth stage as it all depends on the development of the individual business. Generally speaking, we would expect that businesses have been trading for around 2 years.

Growth finance is any type of finance which can help your business grow and develop. This can range from helping with the costs of new premises or renovation, help with cash flow, or to cover the costs of buying new equipment. Growth finance can also help with the costs associated with taking on new staff as your business grows and develops.

Growth finance can come in many forms to meet a range of needs. Growth finance can range from business loans to crowdfunding, asset finance to commercial mortgages. There are a wide variety of finance solutions available which can be tailored to suit your business.
The application process varies by finance provider but generally speaking, you can expect an application for growth finance to include a credit search of the business and perhaps its directors. They may need to see director’s bank statements. A business plan may also be required where you outline your plans for the future and how the finance you are applying for will help you achieve these goals. Depending on the finance provider you apply to, you may have to provide security against the amount you are lending.
On the whole, applying for growth finance is fairly straight forward. Because growth finance options are aimed at businesses with a proven track record, the application process isn’t quite as demanding as applying for start up finance. Nevertheless, it is important to make sure your application is as good as it can be to increase your chances of getting accepted. Don’t fear though, the friendly people at Teal are here to help you every step of the way.
Our basic service is free of charge. If you decide you need additional support with applications or business plans, then we will charge a pre-agreed fee for our services.
That all depends on which provider you decide to work with. We work with a wide range of finance providers, who all work to different time scales. Some can approve your loan within as little as 2 hours. While others have a longer process which can take up to 6 weeks to complete. It all depends on the type of finance you need, what’s involved in the application process, and how quickly you can provide the documentation required for the application.
We work with a wide range of finance providers across the UK, over 500 at any one time so make sure we can provide a wide and varied selection to you to choose from. We work hard to understand the needs of your business and match you to the most appropriate provider for your needs.
You can borrow money for pretty much anything! There are a variety of finance options available that are tailored to all types of business needs such as helping with cash flow, property purchase/renovation, buying new equipment/assets, to take on more staff and much more! There will be a finance option out there that is perfectly suited to you, and we’re here to help you find it.
It’s entirely up to you! We work with a wide variety of finance providers, who all offer a wide range of finance options. You can borrow from as little as £500 up to the millions! We would always recommend that you are sensible with how much borrow and only borrow what you genuinely need to help your business succeed. But whatever amount you’re looking for, we are here to help.
In the current financial climate, grants are increasingly hard to come by and the application processes for grants are becoming more and more demanding on applicants. Because of these reasons, we don’t provide grants. That said, after years of experience in the business funding sector we have accrued substantial knowledge of the grant funding landscape, and if we feel that a grant would be a good fit for your business, we would be more than happy to share our expertise with you.
We are here to help growth stage businesses, i.e. those with a proven track record. Generally speaking, if you have a proven track record as a business, it is reasonably likely that you will be successful in your application for finance. That said, funding applications are dependent on a wide range of factors such as your personal finances, your credit rating, the amount of money you’re applying for, the loan term you’re applying for etc. Above all, lending money is based on how ‘risky’ you are as an investment prospect. If you can minimise your risk factors and prove you’ll be able to pay back the money, there’s a good chance you’ll be successful. Don’t worry though, we are here to help you every step of the way.

To speak to an adviser use our online chat facility, call us on 0333 355 4886, or complete the short form below.

Apply Now

From our database of over 500 finance providers, we will introduce the most suitable lender for your business without delay. We work with alternative lenders, not high street banks.

The number of finance providers we are currently working with 504

Apply now and receive a free copy of our 44-page eBook ‘The Plain & Simple Guide to Small Business Finance’.

Please note that Teal is a signposting and business support service, we do not provide financial advice or credit broking. Teal will not share your data with third parties.

*Providing your postcode enables us to identify any region-specific funds which may be available to you. Calls to 0333 numbers cost no more than a national rate call to 01 or 02 numbers and count towards your inclusive minutes.