It's true, the banks are still lending! (July 2009)

It's true, the banks are still lending! (July 2009)

Contrary to what you read in the press and hear on the news lending is still available for you to buy a business on very competitive terms that are better than they have been for years following the progressive reductions in Bank Base Rate.

Since the major upheaval in the financial world Business Mortgage Solutions has enjoyed a sustained period where funding has continued to be raised to enable our clients to successfully complete the purchase of their business. These have included both freehold, leasehold and goodwill & asset enterprises covering a wide range of prices.

All of these were completed on very attractive terms through Bank sources who remain committed to lending for small businesses.

One significant change has been the replacement of the "Small Firms Loan Guarantee Scheme" with the introduction of the "Enterprise Finance Guarantee Scheme" which provides a Government backed guarantee to a wider range of businesses with loans ranging from £1,000 to £1m. Invariably there needs to be a proportionate cash deposit to match the amount of borrowing and a sound business plan with financial projections, both of which we prepare on our client’s behalf.

This means that "Goodwill & Asset" purchases can be considered as well as leaseholds which have hitherto been difficult to finance without supporting bricks and mortar security.

For information on the borrowing terms we could achieve for you please call us for an informal discussion

Contact the finance office on : 01761 241144 quoting ref BT