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Keep up to date on the latest finance products
Here is a list of some of the more interesting and innovate business finance products that you may not be aware of and could be the perfect solution to help you or your clients achieve their goals. If you want further information on any of these finance products, give us a call on 01572 729 729 or email us on info@reservoirfinance.co.uk
We work with many Introducers and their clients on a regular basis. In fact, most of our clients are introduced to us. We provide a fully compliant and whole of market service, so you can be ensured that your client is getting the best advice and service. We will always keep you in the loop if that is what you want.
What's new in Business Loans
Secured Business Loan
Why is this product unique? There are no product, valuation or early repayment fees, saving thousands of pounds. Works like a line of credit – clients can flexibly draw down and repay.
Borrowing amount: For loans up to £400,000
Turnaround time: Fast turnaround of 5 days from successful application to payout and Offers within 24 hours
Rate: APR starts at 4.95%
Term: Up to 5 years
Important Information: Secured as a second charge on residential, buy to let or semi commercial property with a maximum LTV of 75% for both 1st and 2nd charge combined.
01572 729 729
Unsecured Business Loan
Why is this product unique? New privately funded lender offering large, unsecured loans with No personal Guarantee or Debenture.
Borrowing amount: £500,000 to £5m
Turnaround time: 30 days from receipt of information
Rate: From 6%
Term: Up to 8 years
Important Information: up to 4 x (net debt/EBITDA). Minimum turnover, £1m
01572 729 729
Revolving Credit Facility
Why is this product unique? Interest only payments for a full 12 months on an unsecured basis
Borrowing amount: up to £85,000
Turnaround time: Funds can be transferred within as little as 3 working days
Rate: 0.075% per day
Term: 12 months
Important Information: Personal guarantee required
01572 729 729
What's new in Business Insurance
Personal Guarantee Insurance
Type of Insurance: Personal Guarantee Insurance - Increasingly, as a condition of raising business finance, Directors are required to sign a Personal Guarantee to secure the finance. In the unfortunate event the business becomes insolvent, the lender can call on the Personal Guarantee to recover some or all of the shortfalls due on the outstanding finance obligations that the business owes to the lender.
Why is this product unique? Personal Guarantee Insurance is an annual insurance policy that provides Directors with insurance cover in the event the lender calls on their Personal Guarantee following insolvency. Any claim that is made is paid direct to the lender on the Insured's behalf.
What's new in Property Finance
Property Investment Credit Facility
Why is this product unique? Interest only, 2nd charge loan on existing property portfolio to finance deposits, re-furbishments, or any other property investment needs. Longer term than a regular bridge and flexible repayments and additional draw downs - works as a line of credit
Borrowing amount: £25,000 to £400,0000
Turnaround time: Fast turnaround of 5 days from successful application to payout and Offers within 24 hours
Rate: From .48% per month
Term: Up to 36months
Important Information: Available to property investors with multiple properties (minimum 3 Buy to Lets). Credible repayment strategy required.
01572 729 729
Cutting costs on existing commercial mortgage.
Why is this product unique? Interest only Commercial Mortgage with no arrangement fee or Early repayment charges.
Do you have clients who would like to cut the costs on their commercial borrowing? Moving their current commercial mortgage away from capital repayment to interest only can reduce payments and make a significant positive difference to their cash flow. We have a lender offering a variable 2.5% + BBR with no arrangement fee or Early repayment charges.
Borrowing amount: £100,000 +
Turnaround time: This is a much sort after product and therefore completion is taking longer than usual.
Rate: 2.5% +BBR variable
Term: 5 years, although the loan is amortized over 25 years
01572 729 729
VAT loans for property purchases
Why is this product unique? An unsecured loan that covers 100% of the VAT due on a Property purchase.
Some Commercial properties require you to pay VAT on the purchase, meaning a standard finance deal will not cover the full cost required. Not only will your client have to pay a deposit, they will also have to find an additional 20% of the purchase price on completion for the VAT.
Borrowing amount: Up to £20m plus
Turnaround time: Fast Track facility with rapid turnaround tailored to the needs of the transaction.
Rate: 0.075% per day
Term: 45 to 120 days depending on when the VAT can be reclaimed from HMRC
Important Information: this facility must be applied for in advance of the completion of the property.
01572 729 729
What's new in Asset Finance
Did you know that figures recently released by the Finance and Leasing Association (FLA) report an 8% rise in asset finance new business in July (compared with the same month last year). More businesses are taking advantage of the plethora of options that asset finance can make possible, including releasing capital from existing vehicles and equipment giving a vital cash-flow boost.
Asset Finance
Why is this product unique?
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Credit lines approved for 180 days, helping clients to put in place buying plans for specific types of assets.
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3-month VAT deferrals
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Balloon payments
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Irregular payments to meet seasonal business income.
Borrowing amount: From £20,000+
Turnaround time: 3 days +
Rate: From 5.5%
Term: 12 months to 84 months
01572 729 729
Re-finance of existing assets
Why is this product unique? Utilising a business’s existing assets as security to give the business a cash injection or take over a finance agreement with another provider and extend the term to reduce the monthly payment.
Borrowing amount: From£20,000 +
Turnaround time: 3 days +
Rate: From 7%
Term: 12 months to 60 months
01572 729 729
Operating Lease
Why is this product unique? Support for businesses with any public sector opportunities (whether it be education, NHS, MOD or Councils). They will be able to access a fully compliant operating lease that complies with government procurement requirements.
Borrowing amount: From £4000 with no upper value
Turnaround time: 7 days
Rate: Variable, depending on the equipment purchased
Term: Variable, depending on the life of the equipment
Important Information: Payments can be deferred to coincide with new budgets, but the equipment can be provided straight away.
01572 729 729