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  • Banks, Finance, Investment, Loans

    Do you know the difference between serviced monthly, rolled up, and retained interest?

    Interest rates are the main cost of borrowing money. When you borrow money from a lender you are expected to pay back the amount that you borrowed, plus the interest on the amount borrowed. The number of different interest rates available when borrowing can be confusing, and varied. The types of interest rates on commercial...

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  • Banks, Loans

    Scattergun Approach vs Targeted Precision – What works best for business finance?

    We were speaking to one of our lenders the other day. They were telling me that they kept getting applications from a finance broker, which they always looked at, but always knew that they wouldn’t do the deal. Why? Because that particular broker just sent a two-line e-mail to every lender they could find, in...

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  • ASC Newsletters, Banks

    “No”. “Maybe”. “If…”. “But”. Will you ever just get a “Yes” from a Bank?

    Business banks are masters of unclear language. If you ever want to find someone who’s saying “no” at the exact same time as they’re saying “yes”, talk to a business loan underwriter. There’s a saying in finance that you’ll get one of three answers from a bank if you’re looking for finance on your own...

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  • Banks, Business, Finance, Loans

    We all know the bank managers have disappeared. But where did they go?

    In the “old days”, getting a loan was perhaps a simpler task. You went to the bank, you asked for an appointment with the manager, and got yourself booked in. Then you came back at your allotted timeslot, presented your business plan, and if the manager liked the idea, then they gave you the money...

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  • Banks

    Lenders, Lenders everywhere – which one is right for you?

    If you had to name every lender in the UK, do you think you could? We doubt it. When most people think of “lenders”, what they’re really thinking of is high-street banks. It’s certainly possible to name all of those, but at most that’s going to be around 20-25 different lenders. This might seem like...

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  • Banks, Financial World, Loans

    The finance process is a chore – but it’s one you don’t have to go through.

    Earlier this month, we talked about how slow starting your finance journey can be without a broker. If you’re trying to talk to banks directly, then you can spend weeks waiting around for a response. A broker presents a much faster solution. Unfortunately, that sluggishness is often prevalent throughout the whole finance process. If you...

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  • Banks, Financial World, Loans

    Time is everything in the business world – and banks are prone to wasting it.

    Today, we’d like to ask you a question – when was the last time you spoke to someone at your bank? Unless you’ve had the misfortune of losing your debit card or being a victim of fraud, we’d say the answer is “not recently”. If you’re one of the “lucky” few who have, then we’ve...

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  • Banks, Financial World, Loans

    Are unsecured loans really a “poison pill”?

    There are many different ways to get a loan. We’ve talked about a number of them in these blogs, and you’ll find even more on our website. However, the financial process has another part to it – security. Security is a deceptively complex topic, with a lot of different interpretations to be had. So, here’s...

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  • Banks, Finance

    When a bank is selling itself, how can it be financing you?

    It’s a little odd to hear, but banks fairly regularly get sold. Whilst the high-street banks that everybody knows are too big to be bought and sold wholesale, smaller parts of them and other smaller banks are fairly constantly being bought, sold, and traded for various purposes. Now, you might think “so what” to this...

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  • Banks, Finance, Loans

    How many banks are there? So many more than you think.

    If you asked your average business owner to name as many banks as they could think of, we’d bet that they’d struggle to get past 10, and almost definitely wouldn’t hit 20. Once you get past the big high-street banks like Barclays, Lloyds and HSBC, most peoples’ knowledge of banks dries up. This is emblematic...

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