I know you do not want to hear this and like me you are probably fed up to the back teeth, with our friends in Parliament and the B word.
But I have rarely seen in the recent years, since Banks cut their lending to the smaller business, Finance Companies being so cautious.
Put simply, they are looking to spread their loan risk more evenly than ever and are obviously being more cautious.
Which means if you are lucky enough to choose the right finance company out of the 100 odd finance companies and you manage to package the loan application exactly as the underwriter wishes to see it (normally 3 out of 10 applying direct do, whereas 7 out of 10 applying through a broker do).
Lets assume you get everything right, but at this present time, the sector you fit in at the finance company is getting full, the laws of Caution and supply and demand come in (finance companies hate political uncertainty).
Which explains why the rates they are being offered direct and what we are achieving are so different, saving a third in interest rates is not unusual.
Talking of lucky, I still spend at least 30 to 60 minutes everyday studying new and different finance options and developing my relationships with large finance companies. Guess what!! The more I study and improve the luckier you my clients are too. We save you time, hassle and money. Through a deep industry knowledge, we know which company to take you to and how to package the loan application to suit that particular companies Underwriting team. If you are looking for any type of Business Finance from £20k to £2m, please call me on 07710 466166.
But please don’t do this(see my PS at the bottom)
I typically get a phone call once a week, that starts with “Hey Mark, I have been receiving your emails for years now, can you ………………….” The answer is normally yes, having built up a contact base to die for, over the last 25 years. Time wasters are always welcome to call me, there is nothing I like more than a challenge, I just happen to love what I do; I am a very lucky man. Why not pick up the phone and tell me what finance would ideally suit your business, let us be your Satnav helping you get there quickly and easily we work with all types of business including the construction sector.
Please do not delay looking for finance, if you know you are going to need it, particularly if it will put any strain on your cashflow. Almost certainly you will be asked for your last 3 months bank statements, and if it shows a slight deterioration, you will be charged more in interest.
Are you 1 of the 80% of eligible businesses not claiming their R&D Rebates??