This gives us the opportunity for us and you to understand one another and the work we’ll be carrying out.Īs any finance broker knows, business owners need access to flexible funding solutions tailored to their specific needs. When you choose to work with us, you’ll be working with a relationship-driven funder who really gets to know you and your clients. Our Secured Loans are available for between £50k and £500k on either a short or long-term basis, with a flexible repayment schedule available. Secured Loans we offer to UK businessesĪt Time Finance, we understand that each business is unique and that having access to the right level of finance to meet their business goals is important. That’s why we offer flexible Secured Business Loans, giving your clients the freedom to progress their plans at their own pace. In order to meet the criteria, financial performance, credit history and growth plans are also taken into account. Business loans secured with collateral, such as cars, property, machinery, or equipment, may be the right choice for businesses with valuable assets. The businesses we support must be based in England or Wales to obtain a Secured Loan they should have been trading for around 2 years.Ī Secured Business Loan can be a great way to obtain the capital needed to grow an organisation.We facilitate loans of £50,000 to £500,000 with a loan term of up to 5 years.At Time Finance, we have recently doubled our Secured Loan offering to businesses from £250,000 to £500,000.Secured Business Loans: what are they and who are they for? To find out more, speak to a member of our Business Development team today. Term lengths span up to 5 years and rates depend on the type of loan taken. We offer a number of different loan sizes to support all kinds of business investment. We help brokers make an informed decision about which is best for the situation at hand. It’s important to know what type of loan is best suited to your client’s unique goals as well as their financial situation. Once assets and creditworthiness have been assessed, a cash injection can then be released into the business. Commercial assets allow larger facility sizes because security is taken from the business. Secured Loans are a type of financial solution that businesses can obtain using their items as collateral. Interest rates will depend on the type of loan taken and the term length, so it’s important to consider the right choice for the situation and business at hand. Principal: The principal is the amount you borrow before any fees or accrued interest are factored in.There are various types of business loans and financial solutions to help boost your business processes – including Secured Loans.Your loan’s principal, fees, and any interest will be split into payments over the course of the loan’s repayment term. Repayment term: The repayment term of a loan is the number of months or years it will take for you to pay off your loan.You can use Bankrate’s APR calculator to get a sense of how your APR may impact your monthly payments. APR: The APR on your loan is the annual percentage rate, or cost per year to borrow, which includes interest and other fees.This rate is charged on the principal amount you borrow. Interest rate: An interest rate is the cost you are charged for borrowing money.When taking out any loan, it’s important to understand these four factors: Common types of unsecured loans include credit cards and student loans. Unsecured loans don’t require collateral, though failure to pay them may result in a poor credit score or the borrower being sent to a collections agency. In exchange, the rates and terms are usually more competitive than for unsecured loans. Common examples of secured loans include mortgages and auto loans, which enable the lender to foreclose on your property in the event of non-payment. Secured loans require an asset as collateral while unsecured loans do not.
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