Before applying for commercial finance, measure your business’ financial fitness against general lending criteria. Not only will you get a better idea about the type of finance to raise but also whether to approach a high street bank or an alternative lender. As a matter of fact, lenders from each tier display different risk appetites. Because each sets up their own red and green flags, getting to know their lending thresholds is key. To arrange commercial finance or a buy to let mortgage watch out for these top lending criteria.
Lending Criteria for Commercial LoansWhat should you go for – secured or unsecured loans? When taking out a business loan solid businesses are more likely to get unsecured loans. Though high street banks generally prefer secured lending. In general, expect a high street lender to take a floating charge/debenture or a Personal Guarantee as part of their lending criteria. Certainly, tier 1 lenders [...]
Read the full story in https://www.cc-finance.co.uk/lending-criteria/
"If you need to raise funds for your business or property have you spoken with your bank yet?" This is the first question I ask business owners, property developers and landlords. High street banks…
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