Business loans can be used for a variety of purposes. They are normally related to property purchase, a method of funding business growth, or consolidating existing debts.
Business term loans are also particularly useful when purchasing assets or equipment which are not suitable for asset/equipment finance. This could be for a number of reasons, including a lack of financial history. Without solid financial figures, your business is a risk to lenders.
Loans are normally secured against an asset and up to 100% finance can be achieved. This all depends on the security available, and the proven repayment capacity. Here at Thompson & Richardson, we take the time to fully analyse your business finances, helping you choose a business term loan that suits your cashflow the best.