Business Loans
We are associated with the leading providers of on-line commercial finance. Loans for:
- Employed looking for a business loan;
- Self-employed and sole traders;
- Partnerships;
- Limited Companies.
You may have been rejected by your bank, had credit problems in the past or are looking for a great deal to finance the development of your business. We can provide a fast, flexible and cost-effective solution to your commercial finance needs.
Properties
We can consider applications for most types of commercial properties. These properties must be freehold or long-term leasehold (lease must be a minimum of 55years unexpired at the end of the term of the loan. The principal categories are as follows:
- Country properties;
- Health industry properties;
- Investment properties;
- Leisure properties;
- Professional properties;
- Retail properties.
On some properties the commercial security is acceptable in isolation. On others, additional security may be required.
Purpose
- Purchase . Borrow up to 75% of the bricks and mortar value of your new property.
- Refinance. Clear expensive bank loans, overdrafts and leasing arrangements and have one simple monthly payment.
- Raise Capital. Use the value tied up in your property to finance the purchase of extra stock or equipment to expand your business.
Status
Unlike traditional lenders we do not pay too much attention to past credit history. You will need to provide an explanation of any past problems. However we are more interested in you future plans and how you intend to afford the repayments. With a satiosfactory explanation, we can consider clients with:-
- County Court Judgements;
- Mortgage arrears;
- Poor credit history.
Our aim is to be as flexible as possible. Each application will be judged on its merits.
Terms
Size of Loan - Minimum £50,000, maximum £2,000,000.
- Repayment period - 10 - 30 years.
- Property value - minimum £75,000, no maximum.
These are simple guidelines which reflect our prime loan plans - we have others which offer, for example, loans from £10,000 over shorter periods and secured on smaller properties. We will do our best to meet your commercial financing and have access to a wide range of commercial lenders.
Interest Rates
Interest rates are expressed as a margin over Libor rate, as follows:
| Loan to value | Margins for loans below £250k | Margins for loans above £250k |
| up to 50% | 2.75% | 2.50% |
| 51% - 60% | 3.25% | 3.00% |
| 61% - 70% | 3.75% | 3.50% |
| 71% - 75% | 4.25% | 4.00% |
Full details of the interest rates payable on all the loans we offer are contained in your loan agreement. If you are unsure of any of the terms you should ask your solicitor for a full explanation and appropriate advice.
Typical Example
A typical example of loans of £200,000 over 240 months, including total fees of £6306 = £1,784 per month equal to £428,160 total amount repayable (typical APR 9.2% variable. Written quotations on request. Loans secured on property. If part of the security is your home, you should be aware that your home is at risk if you do not keep up the repayments on a loan or a mortgage oe other loan secured upon it.
