Consolidation Loan to refinance Stacking Loans
At Sterling Commercial Finance, we constantly seek innovative and alternative finance providers for our clients.
We see many businesses with short-term, expensive loans, usually from “algorithm” lenders via the internet. This source of finance is quick and is often perceived as the only substitute for conventional finance.
Many businesses have taken out more than one of these loans, which is referred to as “stacking.” The short-term nature and eye-watering interest rates often leave businesses with no solution to their spiralling debt commitments.
Most lenders provide funding for growth, not to replace other lenders. Stacking is viewed negatively and can affect credit scores. YOU NEED TO ESCAPE!
THE SOLUTION:
We have access to a loan fund actively seeking to take out these short-term stacking loans and refinance them on a longer term, substantially reducing monthly repayments.
Take a look at the product features and benefits below. If you think this could work for your business, please do not hesitate to contact us, and we can assess the “art of the possible” for you.
Features
- Loans up to £250,000
- Terms up to 5 Years
- Interest Rate 17%
- Lender Arrangement Fees 3.5%
- Available across all sectors
Benefits
- Can be used for 100% refinance
- This will substantially reduce total monthly debt repayments
- No Early Repayment Penalty
Credit Criteria
This lender is explicitly looking for customers burdened by expensive short-term debt to improve their prospects and cash flow.
Usual underwriting terms will apply, but we will not consider cases where the business has serious adverse information on its credit file or where the directors have very poor credit.
Security
- Personal Guarantee
- Debenture
If you think this could work for your business, please do not hesitate to contact either
David Griffiths via Email or Tel: 07850 188046
John Laycock via Email or Tel: 07794 936018
and we can assess the “art of the possible” for you.
