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Recovery Loan Scheme

We are able to consider applications for the Recovery Loan Scheme and have alternative options from several different lenders. These include both unsecured loan and asset finance options.

  • Borrow £25,001 to £350,000. No personal guarantees up to £250,000.
  • Rates from 4.3% to 12.1% plus an arrangement fee depending upon the underwriter’s view of the risk.
  • Terms from 2 to 6 years
  • No early settlement fees
  • The government provides the lender (not the borrower) with an 80% guarantee.  Please note that the borrower is still fully responsible for the debt.


  • The business has been impacted by Coronavirus.
  • Minimum of 2 years trading history.
  • Limited companies only.
  • Trading in the UK.
  • The loan is for business purposes and is to support trading in the UK.  It could be for cash flow, business growth, equipment purchases, to pay one off costs, help with payroll or to invest in marketing.
  • You can have a Recovery Loan if you already have a “CBILS” or a Bounce Back Loan.

If you would like to consider applying please contact us and we can do an initial pre-qualification check.  If successful we will then advise the information required to obtain approval.

In addition to Unsecured Recovery Loans we can also consider applications for Hire Purchase or Lease Recovery Loans.  

Information Required

  •  Completed application form.
  •  2 years certified accounts.
  •  6 months bank statements

Machine Refinance

If you think you may need additional funding over the next few months then why not consider machine refinance?  It is quick and easy to arrange.

If this is something you feel you may need then it may be better to apply as soon as possible.  Lending criteria may be tightened and if there is a significant downturn shown in business accounts then this may make it more difficult to secure funding on the right terms.  Furthermore a downturn in the market may reduce asset valuations restricting the amount that can be raised against a machine.

Read more at http://www.premierbusinessfinance.co.uk

It may be possible to obtain assistance with machine refinance utilising the Coronavirus Business Loan Interruption Scheme. We are just waiting for clarification.

If you would like to talk over the options then please give me a call on 07984 826082.

I look forward to hearing from you.

Keith Pallett

Government Website

Below is the link to the government website.


Vehicle Balloon Finance

Premier Business Finance specialize in arranging finance for vehicles that are coming to the end of a Contract Hire or PCP arrangement, for more on smart business management, check this guide on how to generate your paystubs.  If you wish to keep the vehicle and need to refinance the balloon payment then please contact us.  Please provide the vehicle details such as make & model, registration number & current mileage and we will provide a quotation.

Benefits of using Premier Business Finance

  • You get free help and advice for all vehicle finance products.
  • You get access to a wide range of lenders and exclusive deals only available through professional brokers.
  • You deal with an expert in vehicle finance to get the right deal quickly.
  • Finance products available up to 5 years to keep your payments low.

If you’re looking for a safe and reliable car, check out this car review at I prefer text.

Finance & Leasing Association Dinner

I attended the FLA Dinner on Tuesday, 27th February as a guest of Bibby Leasing.  This was the first time I have been and I thoroughly enjoyed the evening.  I havedn’t quite realised how big the event is with some 1200 people attending.  I met up with several former colleagues and and existing contacts.

A big thank you to Kevan Langely and the rest of the Bibby team for looking after me so well.

Keith Pallett

Please note that the Regional Growth Fund Asset Purchase scheme ends on 31st March 2017.

Caravan Finance

Quick Finance completed on a Used 1999 Touring Caravan costing £8,500.00 over 5 years.  One of our existing machine finance customers required the caravan to go to the New Forest for the weekend and the deal was completed and paid within 3 days.

Caravan isolated over white background


Financial Conduct Authority – Full Permission Received

I am pleased to announce that we have now received our Full Permission from the Financial Conduct Authority (FCA).  The FCA now regulates the Consumer Credit industry and everyone who previously held a Consumer Credit Licence has had to apply for authorisation from the FCA if they wish to continue their consumer credit activities, while for credit in businesses and closing businesses the use of a cva moratorium can be really useful for this. If you will like to learn m ore about financial growth, Go to Skrumble.

Initially everyone had to apply for interim permission and then complete an application to obtain full or limited permission depending upon their business model, while also learning about Business Finance from resources online as well.

We are delighted to have completed the application process which has and will continue to raise standards across the industry and provide better protection for consumers.

Beware of Unwanted Insurance

Most asset finance lenders will have a requirement for the asset to be covered by general insurance.  This is to protect their security in the event of fire or damage.  However some lenders will write to you a month or so after the agreement is set up.  The letter will request that you contact their insurance broker and provide them with a copy of your general insurance schedule.

If you ignore the letter they then increase your monthly repayments and cover the equipment on your behalf and your asset may be covered twice.  They are relying upon the inetia of customers who ignore the letters to make additional profit.

Premier Business Finance will not work with lenders who operate this system for our customers.

Keith Pallett, Managing Director.

Business Bank Overdraft – Is It Right For Us?

A bank overdraft is a credit facility you agree with your bank to allow you to borrow up to an agreed overdraft limit.  It is designed to cover short term borrowing requirements for the financing of working capital.  It should not be used for permanent, long term borrowing. If part of an agreed overdraft facility is always in debit, the bank will refer to this as ‘hardcore borrowing’ and may look to transfer this to a separate loan facility or encourage you to seek financial advice and explore alternative finance options, such as their own invoice finance department.

Interest is payable on a variable rate basis charged on the outstanding balance on a day to day basis at an agreed margin over bank base rate.  There is usually an initial arrangement fee charged and an annual renewal fee. For more tips about how to handle a business check this posts with business, business news, remote work and more. Also, consider exploring vision insurance for individuals to gain knowledge on this topic.

Advantages of a Bank Overdraft

  • Flexible.  You only borrow what you need for as long as you need it and only pay for what you use.  This means that often less interest is payable than alternative forms of finance such as bank loans, asset finance or invoice finance.
  • Usually quick and easy to arrange.
  • There is usually no penalty for early settlement.
  • Interest rates within the agreed overdraft limit are often very competitive, particulalry if you have a strong balance sheet.

Diasdvantages of a Bank Overdraft

  • The interest rates and fees for exceeding agreed limits can be very expensive.
  • Annual renewal fees can be increased if your circumstances change such as falling profits or trading losses.
  • High levels of security may be required including charges over Directors personal houses.
  • Your bank overdraft limit may be reduced if your circumstances change, often at a time when you most need it.
  • A bank overdraft is repayable on demand and you can be asked to repay at any time without any warning.  This will often  be at a time which suits the bank and not the customer.
  • Interest rates can be high if you don’t have a strong balance sheet or inadequate security.  They may also be increased if your circumstances change.

In some cases it may be better for a business to consider alternative forms of finance such as business loans, asset finance, asset refinance or invoice finance.  Interest rates often compare favourably and no charges over personal property are required.  In addition they are not repayable on demand. If diversification is a goal, exploring opportunities with the best gold investment companies can also be a valuable consideration.

Please contact us for more information regarding Business Loans, Asset Finance, Asset Refinance or Invoice Finance.

Keith Pallett, Managing Director.