Flexible Credit Line
Type of funding?
Flexible line of credit to draw down as you need access to cash. Funding can be flexibly repaid and re-drawn
Who is this suitable for?
Businesses and Directors have to demonstrate a good credit history. Lenders may require business plans, financial forecasts, as well as personal guarantees
What are the key terms?
Costs vary significantly based on your credit rating, volume of lending, and other factors. As a guide expect annualised costs to be 10-25%
What are the key criteria to get funded?
- Provide annual accounts and possibly management reporting (e.g., cashflow), a business plan/ financial forecasts
- Have equity/ net assets in the business
- Provide personal guarantees
- Businesses/ directors have good credit history
- Less suitable for businesses with limited track-record, are loss making or have recently restructured