Building Material Finance

Two innovative funding providers have come together to provide this new type of finance. Building Materials Finance allows clients to purchase the raw materials required on site for building work to be carried out. This facility is aimed at contractors and sub-contractors who require additional working capital to help them finance contracts which might be currently out of reach, or would put significant strains on cash flow.

Companies that can apply for this type of finance include:
Brick layers and brick factors
Steel fabricators and contractors
Concrete suppliers
Modula builders
Civil engineers

The following security is needed: ( as 2 separate funders are involved some security is required by both)
Limited companies only
Debenture over stock
Debenture over debtors
Personal Guarantees from all directors for both funders.

Costs:
3% interest per month
2% up front facility fee
£150 registration fee per debenture
Facility size from £25K to £100K
Minimum transaction £10K with £50K maximum
Minimum trade fee of £300.

New Lender who even likes Start-Ups

At the end of last year I had a meeting with an interesting lender. They do short term loans from just 3 months, but unlike most short term lenders they will also do loans of up to 10 years. They like new starts, adverse credit and sole traders. They will lend from £25,000 to £1m. It is quite quick taking around 2-3 weeks to get a loan. The interest rates start at 1.16% per month, which is lower than the usual adverse credit lender. The only stipulation is that the client must be a home owner with enough free equity in their property. The lender is happy to take 2nd, 3rd and even 4th charges against the property.

Getting funding for start-ups is very difficult these days and most have to resort to equity Crowdfunding and therefore sell a % of their companies and usually too cheaply. Now there is an alternative, a lender who will happily lend to start-ups that have free equity in their homes.

For more information please contact:

Peter Kelly: 01932 244810 peter.kelly@pegasusfunding.co.uk
Richard Olsen: 07976 642432 richard.olsen@pegasusfunding.co.uk
Gautam Goenka: 07837 187595 gautam.goenka@pegasusfunding.co.uk