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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
The overall cost for comparison is 11.6% APR. The rate is variable and based on a usual case, including a broker fee of £2,000 and other fees of £1,330. A valuation fee will be payable. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
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Business loan could offer support to SMEs
Reported on Tue, 30 May 2006
A new report has criticised the amount of financial support given to UK small businesses by the government, but where the government fails a business loan could succeed.
The National Audit Office (NAO) says that the Small Firms Loan Guarantee – the government scheme designed to improve access to finance for those companies having difficulty raising external funding – is not providing enough support.
Instead of helping the 150,000 small businesses it was set up to help, just 6,000 firms use the scheme each year, the NAO states.
On top of this, "default rates are almost nine times higher than for commercial lending", the report highlights.
With government support failing to maintain and promote small companies, business loans could help instead to raise the money required to grow and expand.
Business loans offer competitive rates of interest and can be used for a variety of purposes.
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