Finance Blog | Commercial Lending, Essex, London | first 4 Commercial
28Oct2018

Building Small Businesses with a Bridging Loan

It can be a complex process to acquire bridging finance when operating a small and growing business within any industry. If you are searching for some financial assistance with which to build your company and move on to the next phase of your growth our expert team at First4Commercial can help you find the right type of bridging finance for your specific needs.

In many cases, with the difficult financial climate of the last decade, a small business will struggle to find a traditional High Street lending source for a commercial bridging loan. At certain points in the roadmap of a successful business there will be times where cashflow is a struggle in order to pay wages and bills, and times where you need that extra bit of cash to push through an expansion or to take on new equipment, machinery and staff.

Bridging finance is a way to alleviate short-term financial problems and to plug the financial gap that can get them through to a period where future funds are definitely going to be available. Without this type of assistance a small business can suffer. With an injection of capital in the form of a bridging loan can give you breathing space when the next set of invoices are due to be paid soon, providing a stable foundation from which to continue business growth.

Our finance specialists at First4Commercial have all the information you require to help you acquire a commercial bridging loan as a small business owner. Call us on 01277 620083 or email info@first4commercial.com.

21Oct2018

Do You Have to be Employed to Acquire a Bridging Loan?

If you are here searching for information about how to acquire a bridging loan you might be wondering about the eligibility criteria that we have in place at First4Commercial. We have developed our service to help a wide range of applicants, from all sorts of financial circumstances and backgrounds, believing that everyone deserves the chance to build a strong future if they can prove they have a solid plan in place.

Whether you are employed or unemployed you can apply for a bridging loan. The condition of eligibility for bridging finance is that the applicant should be an owner of a property that is being used as security when applying for the bridging loan.

There is a caveat for an applicant in terms of property ownership. If the applicant only part owns the property that is being used as security the loan will not go ahead. The applicant must also be able to produce a sales contract for the property that is under discussion, without this the terms will be viewed as invalid. There are also specific bridging finance options for the purchasing of properties at auction, each with different processes and legalities to consider.

If you would like to find out more about the eligibility criteria for a successful application for a bridging loan, you can speak to an expert member of the First4Commercial team today. To do so, you can email info@first4commercial.com or phone 01277 620083 and we’ll be happy to help.

16Oct2018

Seeking a Commercial Mortgage with Adverse Credit

Starting a business is never easy, and we know that people entering the world of owning a business come in all shapes and sizes. In the vast majority of cases a business will require funding at some point and a commercial mortgage offers the chance for a company to build something solid for the future. What happens though if you have adverse credit and you are looking for a commercial mortgage?

For some traditional lenders, adverse credit is a problem they cannot overcome, but at First4Commercial we believe that everyone has a chance to put forward a case. We understand that not everything runs smoothly for every single person and we have links with a wide range of lending streams, tailored to suit your needs specifically.

You shouldn’t be hindered from building a strong future for your business purely because you have suffered with bad credit, and a commercial mortgage with adverse credit should be a possibility for you if you can prove that you have a solid plan in place for your business.

If you have suffered a poor credit score due to missed mortgage payments, CCJs or other black marks on your credit file First4Commercial could still help you secure a commercial mortgage. We offer non-status commercial loans that allow for customers to have a self-cert approach and to have the flexibility to succeed with their business.

For more information contact First4Commercial today on 01277 620 083 or email info@first4commercial.com and a friendly member of our team will be able to help you understand your choices for a commercial mortgage with adverse credit.

5Oct2018

Bridging Loans from £5,000+ with First4Commercial

At First4Commercial we believe in providing our customers with the chance to succeed immediately, and not to be hindered by the stumbling block of a lack of cash for a few days or weeks. There are countless projects that require immediate assistance in the form of a bridging loan, and we offer commercial bridging loans starting from £5,000 to our customers.

In many cases, a bridging loan service could be the difference between successfully completing a transaction to purchase a property for development or missing out completely, or to clear business debts in order to steer clear of bankruptcy as opposed to losing a business to insolvency.

The speed of our £5k bridging loan service is what makes it most appealing to our customers. We can help you secure a financial package with a fast turnaround when you compare us with other, more traditional lending sources. If you are searching for bridging finance, the likelihood is that you haven’t got weeks and months to work through loan application processes in order to secure funds. We can give you an answer within a short timeframe, offering bridging finance with rates as little as 0.45% per month.

As long as you can provide us with clear information about your exit strategy on the project and have that route to pay us back within a set period of time, we can put together a package of bridging finance to help you in most situations that require a jumpstart whilst other financial solutions are being finalised.

For more information about the First4Commercial service and specifically about our bridging finance product from £5,000, call us on 01277 620083 or email info@first4commercial.com

24Sep2018

Reasons to Seek Out a Bridging Loan

Bridging loans don’t have to be complicated. At First4Commercial we understand that every case is different, and when you come to us for help you’ll have a different reason for requiring a bridging loan than the next person. Our service is geared towards helping people in a wide range of circumstances and situations to acquire bridging finance that will help them get to where they need to be.

This includes the following scenarios:

Refurbishment of a Property – In some cases a newly purchased property will require significant refurbishment work to take place before it is completed and fit for habitation. A bridging loan can help fund the purchase of materials, equipment and specialist tradespeople before you sell on the property.

Cover Unexpected Employment Bills – As more and more people in the UK are working as freelancers or starting their own businesses we often see cases where they are hit with unexpected (or larger than expected) tax bills and other associated costs. If you haven’t yet had chance to build up savings, a small bridging loan can cover you until the next large project is paid by your clients.

An Alternative with Bad Credit – If you have bad credit some traditional lenders might not wish to give you a chance. At First4Commercial we are geared to assist all clients seeking bridging finance, even if you have struggled to acquire credit through other avenues prior to contacting us.

No matter your situation the friendly team at First4Commercial is here to help. Find out more by giving us a call today on 01277 620083 or by emailing info@first4commercial.com and we’ll get back to you at your convenience.

15Sep2018

Expand Your Business Operations with Bridging Finance

Every business has that moment where they either stick or twist in terms of expanding the business operations. For many business owners the sticking point comes with the cost of moving offices, hiring more staff, more equipment and creating that larger space to work out of.

In order to be successful a business has to show a willing to explore innovation, to shift with the times and specific needs and nature of their customers and look to move forward at all times. This is the same in any industry, and if you are on the cusp of requiring new office or factory space in order to move to the next level of your business, you might be worried about the funding of such an endeavour.

With a bridging loan from First4Commercial we’ve got you covered. We can help you with a commercial bridging loan that covers the cost of:

 

  • Expansion into brand new offices to accommodate influx of new employees
  • Adaptations to existing workspace to accommodate new employees
  • Purchase of much needed equipment and machinery
  • Hire specialist staff for an overhaul of company training

As long as you have a strong business plan in place, and can use your commercial premises as security, we have the contacts in place to find you the perfect bridging funding to help you take that next step in the journey you are on running your business. It could be the key to allowing your business the breathing space to thrive. Find out more by contacting our friendly team on 01277 620083 or by emailing info@first4commercial.com.

8Sep2018

Securing a Large Commercial Mortgage with First4Commercial

At First4Commercial we have assisted a wide range of businesses, in a variety of sectors, to secure large commercial loans. There are several types of commercial property that can be used as security on a large commercial mortgage. We have helped offer expert advice and guidance within the following industries and business types:

  • Large agricultural projects
  • Large-scale construction and development projects
  • Expansion within the leisure industry
  • Multi-occupation office space for commercial needs
  • Retail space, from single occupier to large multi-tenant buildings
  • The legal and professional sector

Whereas a business might wish to take out a small commercial loan at certain times during the initial stages of a business, a larger loan will help a business as it looks to take the next step in its growth. This could be to assist with a relocation of a business to new premises, or to help with an increase in staff numbers or improvement in required technology.

How Does a Large Commercial Loan Operate?

Once a small business loan has come to an end it is often necessary to take out a large commercial loan. If you are seeking anything over £25,000 this requires a commercial property to be used as security. We can help you take out a commercial loan up to 100% of the value of the property in question with flexibility in the form of additional security if it is an option, and required.

For more information on taking out a large commercial loan, speak to the experts here at First4Commercial. We can help you maximise your potential. Call us on 01277 620083 or email info@first4commercial.com to find out more.

2Sep2018

How a Personal Loan is a Great Alternative to Using a Credit Card

To take advantage of many opportunities in modern life you have to have a good credit score. It can make a huge difference to a person’s ability to move forward with their life. For many, the easiest option is to take out a credit card to build their score over time. A better credit score will help you in future if you decide to apply for a mortgage, to refinance your current home or to secure a large bridging loan.

A credit card might seem the easiest choice, but there might be a better alternative. By taking out a personal loan with First4Commercial you have a greater way to build up your credit score without the long-term risk associated with a credit card. Here are  2 reasons why:

Make a One off Payment with Ease – A personal loan is a fantastic way to make that single payment for a large item that you need. Whether it is for an emergency situation, a home refurbishment, to purchase transportation or other opportunities, a personal loan can help you make that payment fast, build up your credit score and allow you to secure flexible repayment terms that suit you.

Payment Terms that Work for You – On a credit card your monthly repayments can vary quite a bit depending on how much you have on it to pay off. With a personal loan you know from day one exactly how much you have to pay off each month, and for how long those repayment terms will last.

To find out more about taking out a personal loan with First4Commercial please feel free to speak to our friendly team on 01277 620083. Alternatively, email us at info@first4commercial.com and we’ll arrange a suitable time to contact you.

27Aug2018

A Quick Guide to Commercial Mortgages

What is a commercial mortgage?

A commercial mortgage is loan used to buy a commercial property, such as an office building, industrial factory, or retail space. This type of mortgage differs from a traditional residential mortgage, typically being a much larger loan that comes with higher interest rates and costlier deposit.

What are the benefits of a commercial mortgage?

The main advantage of a commercial mortgage is the amount you can borrow. As the loan is designed to pay for a commercial property or purchase an entire business, the value of the loan is significantly higher than other lines of credit, such as a residential mortgage or business loan.

As a result, commercial mortgages allow businesses to grow and expand their operations, whether it’s investing in new property or taking over a smaller business.

Understanding commercial mortgage rates and borrowing amounts

A commercial mortgage usually comes with a minimum borrowing amount, typically around £50,000, as there are high administrative costs associated with loans of this amount.

Furthermore, lenders require borrowers to provide a percentage of the loan in a deposit, which varies from around 20% to 40% depending on the lender. So, any business looking for a commercial mortgage must have cash reserves to pay the deposit.

Also, commercial mortgage interest rates are either fixed or variable, meaning there are various options available for loan terms and interest rates. The length of the loan can vary significantly too, with mortgages available for just a few years and other that last for decades.

23Aug2018

A Quick Guide to Mortgage Brokers

What is a Mortgage Broker?

A mortgage broker is an expert in mortgages, providing mortgage advice and acting as a point of contact between borrowers and lenders.

Not only do they recommend the best types of mortgages based on your circumstances but act on behalf of the borrower to get the best mortgage possible, such as searching for the best mortgages, contacting banks, negotiating fees etc.

What are the benefits of a Mortgage Broker?

There are various reasons to use a mortgage broker, most notable receiving expert advice from someone that works directly in the industry. Mortgage brokers have contacts with various institutions that helps them get better deals than you would on your own.

They also provide mortgage advice for those interested in applying for a loan, give suggestions on suitable mortgages, and looking in the market for the best mortgage they can find.

This improve the chances of getting a great deal on mortgage and removes much of the hassle associated with finding a mortgage, so its very convenient for many people looking to buy a home.

Mortgage Broker Fees Explained

It is important to remember that mortgage brokers charge fees for their services, with rates varying from each broker, so be sure to shop around for the best rates.

For instance, a broker charging a fixed rate costs a flat fee for all the services, commission-based brokers are paid by the lender they secure the loan with, while commission-based brokers take a percentage of the final selling fee, while other brokers charge.

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