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Northwest Business Funding Loans
Northwest Business Loans can offer three categories of lending, the categories are determined by risk. Risk is the factor that determines most borrowing whether at business or personal level. The affordability and the likelihood of being able to maintain and service the debt is key in underwriting decisions.
Understanding these criteria Northwest has developed a platform for lending that allows all Limited UK business’s to access cash for a number of reasons and all applications will be considered.
Our Categories are divided in three key areas of Business Funding the information below are for example only each application is treated on its merit.
L1 – this is our core market and a profile is likely to be a Limited company that has been trading for more than 5 years. That has shown positive trading conditions and has positive cash at the bank. The Directors will be home owners and living in the UK and will be prepared to sign a guarantee to cover the loan and term. No charges are taken on assets of the business or Directors.
L2 – at L2 the Limited company will have less than 5 years trading but more than 2, and be able to show a steady business and or a growing business. Bank will be steady and trading will be brisk. Directors. The Directors will be home owners and living in the UK and will be prepared to sign a guarantee to cover the loan and term. No charges are taken on assets of the business or Directors. This may change dependent on the size of the loan.
L3 – the hardest category to find funding for, these applications are either in Start up or just trading and as such present the largest risk. While Northwest Business Funding wants to help all start up businesses. The underwriting criteria is strict. The Limited company must have at least 1 year posted accounts, we will need to see and understand last 6 months management accounts, we will need to see 6 months bank statements and we will need strong guarantees. The Directors will be home owners and living in the UK and will be prepared to sign a guarantee to cover the loan and term. Charges may be taken on assets of the business or Directors.
At all levels Northwest Business Funding can offer a facility that meets most business needs in all cases the risk is reflected by the borrowing rate with L1 applications having better terms than L3. The best situation for all categories is to let Northwest Business Funding manage the complete application. We then can better understand the business the needs and work to find the solution.
The range of loans above refer to all types and sizes of loans to include but not limited to Business Loans, Asset Finance, Vat Loans, Tax Loans and other borrowing requirements for Limited Companies
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