We specialise in providing personal and secured loans as well as capital
for car purchases.
We manage mortgages with various products available to suit any circumstances.
Our services are available to residents of the United Kingdom and Ireland.
Loans
Partners: |
Loans are generally most suitable for paying for assets, like vehicles and computers, for start-up capital and for other cases where the amount of money you need is not going to change. The terms and price of loans vary by provider and are usually negotiable.
Personal loans are one of the simplest ways to borrow, but as with all forms of credit it's important that you borrow wisely.
Advantages
1. You are guaranteed the money for a certain period, generally three
to five years - unless you breach the loan conditions.
2. Loans can be tied to the lifetime of the equipment or other asset you're
borrowing the money to pay for.
3. You know what the repayments are and can budget accordingly.
4. You may be able to negotiate a repayment holiday, meaning that you
only pay interest for a certain amount of time whilst repayments on the
capital are frozen.
Disadvantages
1. Most loans have strict terms and conditions.
2. They're not very flexible - you could be paying interest on funds you're
not using.
3. You could have trouble making monthly repayments if your customers
don't pay promptly, causing cashflow problems.
4. Lenders will need to be convinced you can repay them, or at least that
you can offer some sort of security.
5. In some cases loans are secured against the assets of the business
or your personal possessions, including your home. The interest rates
for secured loans are lower than for unsecured ones, but your assets or
home could be at risk if you cannot make the repayments.
It is not a good idea to take out a loan for ongoing expenses. Expenses are best funded from the cash received from sales, possibly with an overdraft as backup.