February 2019
By Rhiannon Carpio, Commercial Partnerships at Merchant Money
Merchant Money provides commercial loans to £500k without any LTV restriction
The term ‘secured loan’ has several defining characteristics. Typically, it describes a low LTV product, a property charge, a long processing time combined with high legal and valuation costs. It can work out expensive for your clients and is almost always a lengthy, time consuming process for everyone involved. At Merchant Money, we have a straightforward solution: a commercial loan, driven by affordability. Because we are confident that our underwriters will fully assess a client’s ability to pay both now and moving forward, and because we are fully committed to only funding businesses we believe in; we don’t have any fixed LTV restrictions.
We review each application on its own merits and utilise various types of security depending on the business itself - we may very well require a property charge but that is not determined by set LTV criteria, depending on the deal itself we could lend over and above 100% LTV. There are many occasions where we are just as likely to accept a debenture, commercial premises, land or card takings. For the right deals, we can fund up to £150,000 on PG’s alone without the need for a property charge. Besides, if there is a strong business where the client accepts card takings, we can consider up to our maximum of £500,000, even if the Directors are not homeowners.
When we do require a charge, it doesn’t slow us down. We still commit to funding within 48 hours without charging additional fees to your clients. Because we take the time to understand your client’s requirements and we can create truly bespoke solutions that other funders simply do not have the flexibility to put together, arrangements that take into account the whole picture. We want to see where a business has been, but also where its headed and how it is going to get there.
When you are looking at business finance for your clients forget everything you think you know about secured loans. At Merchant Money we’ll provide you with a genuinely fast, flexible and fair solution. Our pricing is totally transparent with interest charged on a daily basis. We don’t ever front load interest and we will always declare all our fees on every offer we send out. Business finance that is tailored to exactly what your client needs, when they need it.
More information? Please visit merchantmoney.co.uk, call us on 0203 813 8240 or email broker@merchantmoney.co.uk.