In recent years there has been a sharp rise in lenders offering short-term loans to businesses. Usually these involve Personal Guarantees as prime security with addditional security also taken.
Lenders offer speed of decision making and fast funding if approved and facilities can look attractive. But……………businesses need to exercise extreme caution before taking out such a facility and this caution should include researching the lender to gauge the views of businesses that may have already borrowed.
There have been recorded instances of some lenders not acting in anything approaching an ethical manner, potentially damaging both the borrower and its Shareholders/Directors.
Sometime the speed of funding can sway the decision making process but the old adage ‘caveat emptor’ is very appropriate. Feel free to call or text me on 07966 492154 or email email@example.com for further guidance