Business Finance
If a lender was to offer a mortgage to a Partnership, they will not only look at the business, but also the credit worthiness of the Partners.
Corporate borrowing is where money is lent to the company for either residential or commercial purposes. However because the company is not an individual and has its own legal entity from its shareholders, there are a few additional things required such as:
- Memorandum or Association – provides information as to the company's power to borrow
- Articles of Association – which provides the directors power to borrow
- The company's status and credit risk – assesses the company's financial status compared to other companies in similar business category
The deposit for a corporate client will range from 15% upwards as there is potentially greater risk for the lender. However to benefit from lower interest rates the average deposit is 20%.
At CKFS we specialise in helping client refinance or buy a leasehold business such as, Restaurants, Pubs, all Garages, Guest Houses, off-licences, and many more. The Leasehold retail business sector has very few lenders prepared to offer loans on trading businesses, therefore we are one of the very few brokers in the UK to offer this service to our clients. At CKFS we may be able to offer up to 100% of the purchase price or valuation.
Contact us for an accurate illustration.
