Secured Business Loans in Northern Ireland
We were recently approached by a manufacturing business in Northern Ireland looking for a secured loan to aid expansion and cash flow. We are able to provide a 5 year loan at reasonable rates secured against a property. This allowed our client to bulk purchase materials and obtain significant discounts for materials required to manufacture orders already received.
Secured loans can typically be used for any purpose. The security required for the loan can be land, property, plant and machinery and other types of assets can also be considered. To assess the suitability of a business for a secued loan we would require a valuation of the asset, last year end accounts, latest management accounts and 3 months bank statement.
Unsecured loans for businesses in Northern Ireland are also available. They are unsecured in the sense that no charge is taken over a particular asset but personal guarantees are required. Typically the financial performance of the business will come under more scrutiny for an unsecured loan than a secured loan. The information required to assess such a loan is similr to above in that we would require the businesses last year end accounts, latest management accounts and 3 months bank statements.
If you have a business based in Northern Ireland and you require funding please get in touch with Funding Solutions today. We have a variety of solutions for you. Call us on 0845 251 4040