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Frequently Asked Questions
Does my company need to be trading longer than 12 months to get finance?
No, we can get finance for companies that take card payments from 3 months if their takings are over £/€1,500 per month, for term loans ideally we need a set of filed accounts (min £100k turnover) and Invoice finance we need a minimum of £100,000 turnover.
Do I need to be a homeowner to get offered finance?
Not always, but most lenders prefer homeowners for PG strength purposes. If a tenant you’ll need a fairly strong company to get accepted (min £100k turnover and profitable).
What’s the APR I’ll be charged?
Rates vary from business to business and different facilities offered. Banks offer the best rates (can be single digits) but your best bet is to submit your details to get a quote, it wont affect your score by doing so.
Do you deal with start-ups?
We can deal with start-ups if you’re a homeowner and are willing to use property as security (need to have equity available, max 75% LTV) min loan £25,000. Another option is that if you have been trading 3 months and take card payments we can source you a revenue based loan.
Is there a maximum I can get for my company?
The general rule is 10% of turnover for 12 month terms and 25% of turnover for 60 month terms. Monthly average over a year for revenue based loans and up to 75% of invoices. These can differ, depending on lenders and it’s always best to have a revenue generating reason and the debt is serviceable.
Do I need to have a Limited company to get finance?
In most cases yes, but for revenue based loans you don’t.
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If you need funding to grow your business, our finance partners can provide a fast and affordable solution to help support your goals.
How We Help
Let us spend the time on sourcing your commercial finance, your time is more valuable being used on your business.