28 May 2008

Unsecured Business Funding for as long as you need

It is now possible to obtain unsecured funding for company payroll, PAYE and NI. The specialist lender who provides this service gives 60 day rolling credit on your gross monthly payroll, with a provision to allow for growth.

It is a well know fact that lack of cash flow plays a significant part in holding back the growth of small and medium sized businesses. Its not that you don't have a steady and reliable income. It's just some customer's don't play as promptly as they should and of course, the one payment that has to be made each week or month is the payroll.

The key benefits of Financing Payroll for your business:No security required by company directors The funding appears as a normal trade creditor on a company's P&L, enhancing its credit rating It can be used alongside other traditional financial solutions including factoring, invoice discounting and overdrafts It does not impact on an organisation's secured funding arrangements.

There's no set up fee A flat rate on-going monthly facility fee An interest rate of base plus 3% on the outstanding balance. To qualify qualify for Financing Payroll Funding your company must have a trading history of at least a year and an annual turnover of more than £100,000 and have 5 or more employees. The product is most effective where a company is looking to expand or level cash flow peaks and troughs. The system offers a fast and flexible form of unsecured funding. For a number of our new clients this has meant immediate access to a new funding line of between £25,000 and £125,000.

Clients who have already gained assistance of financing payroll: A plastics manufacturing who applied for a facility of £50,000 per month. They were accepted on 60 day credit terms, base plus 3% interest charge on the outstanding balance and a monthly facility fee of £635. A firm of architects looking for funding of £30,000 per month. They were processed within 3 days and accepted on 60 day terms, base plus 3% interest on the outstanding balance and a monthly facility fee of £400 per month.

A serious alternative to Business financingFinancing payroll system is totally unsecured funding and will lend equivalent to the payroll including the PAYE and NI costs over typically a 60 day period. The Lender ask for no Personal Guarantees, Charges, or Debentures on assets. In fact they only show up on the P&L account as a normal trade creditor
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