The current economic climate continues to bring real challenges to businesses across the UK. This is especially the case for the professional sector, where many practices are facing cash flow difficulties.
We recently met with Stephen Crisp-Jones from Orchard Funding who have access to a brand new solution to inject much needed funds into any business without the need for director or member guarantees.
Orchard Funding have access to a funding consortium with a total fund value of £5m and funding opportunities available to businesses in the region of £25,000 - £100,000, at excellent rates.
This funding opportunity is only available until 28th October 2011! It is relatively simple to arrange and the entire process can take as little as 7 days from credit proposal submission to the transfer of funds into your account.
Key highlights of the funding include:
- A total fund value of £5m is available in tranches of £25,000 to £100,000.
- Lending is based on the sale and leaseback of IT hardware, software, office furniture and general leasehold improvements.
- Aeests to be a maximum of 5 years of age.
- No independent valuation is required.
- Term of lease/rental facility is 3 years.
- Average cost of funding 6.0-7.5% flat.
- It's tax efficient, monthly or quarterly payments can be charged directly to the P&L under current HMRC Guidelines.
- Administration charge £500 to £1,500 plus VAT payable by the client only on success and following funds drawdown.
- Average credit approval time 7 to 10 days from credit proposal submission.
- Funds must be drawn down within a maximum 28 days following credit acceptance. All successful funding applications must be made by no later than the 28th October 2011.
- Credit will be subject to standard credit checks.
This is a relatively easy method of raising competitive working capital and will not affect any existing banking arrangements.
If you would like to know more, please email caley.lewis@the2020group.com and we will pass on your contact details to Stephen Crisp-Jones.
