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External Sources of Business Finance Delia limited company has successfully traded in the recent past hence there is need to expand. It intends to open five new restaurants in Manchester in June 2003. To achieve this and operate on time, Delia needs a total amount of three and half million pounds. As you are aware, growth requires adequate and appropriate financing to ensure that the business has sufficient funds to meet its objectives. The various sources of external finance available to the company include loan capital, share capital and leasing. It is important to be aware of some basic principles and the relative advantages and disadvantages of each alternative: * Loan capital this represents the capital borrowed from the bank. Loans are generally for a fixed period of time and fixed purpose. They have set repayment dates and costs include interest and set-up fees. They are normally secured on assets. To borrow...

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