Services
Commercial Mortgages
Owning your own commercial property can be an excellent foundation for your business.
If your business needs to buy a new premises, or refinance an existing commercial mortgage to a lower rate; we have access to both the high street banks and the lesser known lenders to suit your requirements.
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Invoice Factoring
Invoice factoring, like invoice discounting, releases funding against outstanding invoices owed by your customers.
In most cases, customers are made aware of the lender's involvement. Unlike invoice discounting, invoice factoring involves the lender assuming responsibility for management of the sales ledger and handling credit control with your customers.
Business Loans
There are a number of alternative lenders that offer business loans on an unsecured basis, especially to companies that can demonstrate solid trading history. In most circumstances, it's not advisable to take short-term lending with a high front-loaded interest rate. We can look at potentially cheaper options that are outside the usual algorithms of the larger brokers and well known lenders.
Invoice Discounting
If you trade business to business and offer trade credit terms to your customers, invoice discounting allows you to release funding, using your sales ledger as security.
Invoice discounting is usually confidential and to be eligible, you typically need to run a professional accounts package and demonstrate strong financial controls within your business.
Selective Invoice Finance
Selective invoice finance is ideal for businesses wanting to release funds from a single invoice or with only sporadic financing needs.
It avoids the ongoing service charges usually found in whole turnover invoice finance, and may require no personal guarantee, debenture, or trust account.
Supplier Finance
Supplier finance is specifically designed to meet the needs of trading businesses looking to buy additional stock or pay suppliers. It is a working capital tool that can often act as a useful top up to an invoice finance facility. We own and operate the Supplier Finance Directory, a website dedicated to supplier finance, found here:
How Will a Lender Assess My Application?
Every case is different. Many lenders will assess an application based on the “PARSER” mnemonic below. Some of the following questions are frequently asked by lenders to determine whether they are willing to lend to you and at what rates of interest:
Person
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What is your structure - are you a limited company or sole trader? Is there any multi-level or complex ownership structure?
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Do you have relevant experience?
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A background to your trading history and recent financial results.
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What is your business and personal credit history? (you can check your credit report here)
Amount
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How much is your business looking to borrow?
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Is the amount you're seeking commensurate with your business assets, liabilities, turnover and profits?
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Is this enough to meet your business needs?
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What is the purpose of the required funds?
Repayment
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Can you afford repayments?
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What are the historic and projected earnings of your business?
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For invoice finance deals, what is the credit profile of your customers?
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Do you have enough funds in reserve to cover a downturn in trading?
Security
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What available security do you have?
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Do you have a factorable debtor book, suitable for invoice finance?
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Do you have trade credit insurance in place should one or more of your major customers fail to pay outstanding invoices?
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Are you a homeowner prepared to give a personal guarantee?
Expediency
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How quickly do you need the money?
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Are you set to a fixed deadline?
Remuneration
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Looking at your profit margins, what overall finance cost is sensible for your business?
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Would you prefer to take a smaller funding line to lower the fees, interest or security requirements?
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When would you like the finance to be paid off?