While structured debt is often necessary for a business to expand and grow, it is the required guarantees that will often cause sleepless nights for the business owner.
I have seen an interesting change in lender approach to some of our clients business debt and their options to access lending under the CBILs guarantee scheme. Some CBILS accredited lenders have added the additional but significant parameter:
- Loan amounts up to £5m
- New & existing Customers
- Interest and fees paid by the government for 12 months
- !Refinance of existing debt!
- Get a 12 month capital repayment holiday
Did you spot it? It appears to be a simple decision to refinance existing debt to allow the business some breathing room for 12 months, with interest paid, fees paid and a capital repayment holiday on offer. Not to mention removing some or all of the business owner guarantee exposure.
For more details on this, contact milecrosscf.co.uk on 028 9092 3325.