Premier Business Finance Tel 01268 219896

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.

Criteria

• 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

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

Below is the link to the government website.

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses