We provide loans to UK corporate SMEs who have been operating for 2 years or more profitably, and can provide security either backed by assets or cashflows.
We support the following loan purposes:
- Working capital
- Stock/equipment/property purchase
- Acquisition finance including MBO/MBIs
Loans start from £1,000,000 (£2m for MBIs)
For a limited company, the minimum security expected is a 1st ranking debenture. A debenture creates fixed and floating charges over the present and future assets of the borrowing company. Additional security may be taken in the form of a specific charge over assets such as freehold and leasehold property, a chattels mortgage may also be provided in respect of specific items of plant and machinery.
The debenture is legally binding and is registered at Companies House, as is a chattels mortgage and certain specific charges. Where appropriate specific charges are also registered at the Land Registry.
Where a company is part of a group, we will also take cross guarantees from the associated companies, often supported by a debenture over the guaranteeing company.
Please note that should any legal charges or guarantees be taken we reserve the right to insist on independent legal advice being given to the individuals pledging the security.
Any additional guarantees are considered on a case by case basis.
Arrangement fee - up to 3% including an underwriting fee if applicable (plus VAT where applicable).
Introducer/Partner fee - as agreed directly with the Introducer/Partner.
Legal fees - based upon the complexity of the transaction.
The agreed annual rate may include an ongoing platform fee (max 2% where applicable) and ongoing underwriter’s fee (max 0.5% where applicable). These fees vary according to the risk profile and will be agreed with the borrower on a case by case basis.
Applying for a loan
We recommend all potential borrowers use an intermediary such as an accountant, corporate finance adviser or commercial finance broker when approaching us for funding.
We are well-known within the business finance advice community which is best placed to advise businesses on whether our services can meet their particular funding requirements.
Please refer to our general loan criteria
Repaying the loan
Repayments are usually monthly or quarterly, however, we will tailor repayments to meet customer need and individual cashflows.
Yes, you can and there are normally no penalties or additional costs for early repayment of the loan. The exception to this being if your agreement stipulates that the loan will run for a minimum number of terms. If you choose to break the agreement there will be a penalty and you will have to pay all due interest up to the minimum term.
If you think you may be late with a payment or are experiencing financial difficulties then speak to us directly on 01530 444040 at the earliest possible opportunity.