The ASC Blog

Can you access the funds you need - the rates you want - terms you are happy to work with?

Published 01/12/2010 00:00:00

Can you access the funds you need - the rates you want - terms you are happy to work with? If so, then you don't need to read on...

Here is another prime example how banks work today. An ASC client company had a £3m loan secured with their bank on a £8.1m commercial property portfolio with substantial rental income. The client also had other substantial sources of income with many years of audited accounts.  Part of the loan was renewed in April this year and the second part was due this month - the same bank offered new renewal terms last week at 43% higher interest (from 1.75 to 2.5%) and 100% higher initial fees (from 0.75 to 1.5%). This is not a comparison between 2010 and 2007 terms; we are comparing 2010 to 2010! What do you think are the reasons for trying to squeeze clients like that?

If banks can treat top clients like this, I can only imagine how business owners generally are being treated!

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You already know that arranging business finance can be a tricky experience.

We appreciate that your time is precious. With our extensive knowledge of business finance available in today’s SME market we can approach the lending institutions that are right for your business finance needs. You will be saved from the frustration of endless form filling, repeated conversations with numerous lenders, and save you from having to provide each different lender stacks and stacks of information.

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