Why should I use Ark Business Finance?
It’s simple, we are one of the UK’s only independent brokers, dedicated to finding you the right funding need. We only deal with the decision makers, providing you with the comfort of knowing we “will” deliver on our promises.
What will it cost me?
Absolutely nothing, the fees payable are made by our lenders upon successful completion of the deal and all of our lenders pay the same, ensuring we deliver the right deal to you.
How long will the process take?
That really depends on the size and complexity of the deal, but we can provide formal offers as quickly as anybody in the market place and often quicker, as our line of communication is only ever with a decision maker.
What level of Turnover do I need to qualify?
The market has moved on considerably and there are lenders that will happily fund New Start Business with no existing or current trading history.
What are the Pro’s and Con’s?
It is vital that you fully understand you obligations when entering into any finance facility and we are there to ensure exactly what you are signing up to. Below are some of the areas that are worth exploring before you enter into a debt finance facility.
What is the length of the agreement?
The norm within the industry is 12 months and a notice period of 3, making it effectively a 15 month agreement.
Are there termination charges for early exit?
Almost definitely and often these can be considerable.
Will I have to provide a Personal Guarantee?
Again it is very likely in the current climate that you will need to provide Guarantees, but these can be limited to a specific figure.
What are approved debts?
These are the debts on your ledger that the factor is willing to provide funding against. Within your agreement will be a schedule of all debts that would be considered “Not Fundable”
What is the average funding percentage offered?
Within the industry many lenders will fund as high as 90% of your approved sales ledger balance, however this is not the norm and should not be considered an average figure to work from.
Can I fund construction/contractual debt?
Within our lending panel we have a team who specialise in funding this type of debt, so please give us a call now and see if we can help. These are just some of the many questions you and your clients might have prior to thinking about entering into a debt finance facility, so why not call us and get some straight answers to some straight questions.