| Commercial
Finance |
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We have access to all lenders, large and small, and long experience in this sector. What we require in the first instance. s Basic plan including expected income. s Full property details. s Your background. s You should highlight any potential problems such as access issues. s Bank statements covering 6 or more months (some lenders don’t require). s Last 3 years business accounts if available. Maximum loan to value – bricks and mortar. Typically the maximum is 75%, although we have secured 90% for very high quality cases. Rates vary and lenders tend not to give an accurate rate until a case has been fully underwritten and offered. Rates tend to be expressed as base + 2% for example. Additional security. In some instances additional security may be sought, for example personal guarantees and a charge over other assets. Leasehold premises. Some schemes exist for business’s that do not own the premises. Goodwill. In most instances, Banks cannot lend against supposed goodwill as it is not a tangible asset that can necessarily be sold on. Term. Banks often arrange a 5 year term with a review at term end. Types. Capital repayment is preferred by most lenders but interest only might be made available for an initial period. |