Great news, finance companies are ready to take applications for the new Recovery Loan Scheme.
But, before you rush in and start applying – do read this; it’s important and may result in you being turned down if not done correctly…
If you intend to apply direct:
Take more time on your application than you usually would. Look at it through the Underwriters eyes – a simple mistake on your part might mean something entirely different to them. You’ll either be turned down or end up paying over the odds with a much higher interest rate.
If you intend to apply via a broker:
I don’t like saying it, but caution also has to be taken when applying with some brokers.
Many take the easy option; applying to all lenders to get in there first. This may get you finance, but it’ll cost you more in the long run – and as you’ll find out, the new Recovery Loan Scheme terms are quite a bit different to those previously offered.
At Ringrose Business Finance, we don’t try to get in there first; we take the time to thoroughly research your business before we apply.
For example, we might find you’re in the wrong credit rating bracket, so we’ll ask the credit reference agency to re-assess you. Likewise, we research your sector and the purpose of the loan to match you with the right finance company the first time around.
Extra care like this might take longer, but it could make the difference between paying 5% or 11% or even being turned down altogether.
Wait a few days or pay 11% more interest – which would you prefer?
It’s this attention to detail, our skill and our passion for getting the best deal every time which results in such glowing references from our clients.
For my sins, my wife and I are holidaying in Cyprus (hence the banner image!), in a very quiet villa, but I’m still working so please do call me directly, to discuss either the Recovery Loan Scheme or general finance.
Call me any time between 7 am and 4 pm on 07710 466166 (you only pay for a UK call) to get your application started.
Alternatively, book a time that suits you over on Calendly, and I’ll call you back: BOOK HERE.