The vast majority of facilities that we provide are fixed rate and fixed term. This means that once the facility in place, your repayments will not react to market fluctuations. If you choose to make large repayments as part of the funder’s terms and conditions, you can reduce your repayment but the interest rate will stay the same. Lenders will either allow you to reduce your repayments or reduce the term with the same repayments. Some lenders also allow you to settle in full with no penalty.
Generally speaking, the minimum amount that can be financed sits around £5000. However, there are exceptions to this with some lenders on our panel reducing minimum lending amounts to as little as £1000.
The panel of lenders that we operate with will consider high value deals. There is no amount restriction in place for the higher end values.
Although we often turn deals around within a few hours, it is good practice to allow sufficient time between approaching a broker and the deadline for the requirement. Facility type and deal structure also affect the turnaround time. As an example, a short-term loan can be proposed, accepted and paid out within a day; but an asset finance facility including multiple pieces of equipment and suppliers could well take several days to complete.
