A slowing down due to the Holiday season
Firstly August is traditionally a quiet month in the Finance. This is primarily due to the holiday season and again in 2017 the trend repeated. Experience does show that the sector does pick up again in September and then right up to the new year.
As this is one of the quietest months in the year we have spent time meeting new lenders and planning for the year. We have some exciting projects in the pipeline with discussions ongoing. We will hopefully release more details in our future blogs – keep reading.
Although the Wigan 10k was undertaken on the 3rd September 2017 (not August 2017) we feel we should mention this in this current blog. Our MD Neil Lukins completed the Wigan 10k in a not too bad time of 54mins. This was completed with only a “minimal” amount of training and was to raise awareness of Edwards syndrome – see previous blog.
If anyone individual or business would like to please follow the link below. https://www.gofundme.com/2017-wigan-10k-love-for-lexi-mae
New lenders to the All Star panel.
Short Term Asset Backed Funder
We are currently working with a new lender who is able to provide quick funding. This is in return for a second charge over a property. A number of All Star clients have already been referred to this new lender. It could be something as simple as a short term cashflow issue which needs to be bridged. This can be done by unlocking the equity in a property to resolve the issue. If you would like to find out more please get in touch.
We are currently working with a lender who can provide an alternative to an overdraft. The lender agrees a facility level with a Client say £100,000 and the Client can then dip in and dip out of the facility as and when they require. This facility works great as the Client only pays for the amount of funding which has been utilised unlike a loan which incurs interest on the whole value irrespective of if the loan has been used or not. The lender is able to work alongside a business that already has an overdraft in place. In essence this type of facility can be used as a top up to the existing overdraft should the bank not be able to increase.
We have recently added another Asset Finance lender to our panel in August. Generally this lender can agree credit lines of up to £250,000. They can even consider businesses with adverse credit.
The terms are up to 60 months and with a typical deposit of between 10%-25% required dependent on the credit rating of the business. Please refer to our previous blog on Asset Finance for further details.
Asset Based Lending • Asset Finance • Business Loans • Cashflow Finance • Factoring • Invoice Discounting • Single Invoice Finance • Trade Finance • Stock Finance • Credit Insurance
Please find below our specialist areas: Please contact us on the following details or via the website if you require any assistance on the above products.
Office Tel 0161 821 1478 Mobile 07771 430 740