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Applicants
At Smart Finance We recognise that over the last 14 years since the end of the last recession the traditional banks have ignored their smaller owner-occupier clients and business people who do not fit the prime high street model.
Our sources specialise in business finance specifically designed with these types of clients in mind:
Employed and looking for a business loan
Self employed and sole traders
Partnerships
Limited companies
Smart Finance recognises the particular problems that arise for these types of client. In particular we recognise that many of these types of applicant have no need to prepare accounts. This is because either they fall below the minimum statutory audit threshold or because they are self employed. It is for this reason we have sourced and work with lenders who operate a self declaration of income scheme. We have also tailored all our other processes to recognise the problems typically faced by clients in this sector when trying to raise commercial property backed financing.
Purpose
There are 3 principal reasons clients apply to us for a loan. They are as follows:
Purchase of a new property
Refinance of an existing mortgaged property
Raise money on an unencumbered property to raise capital for expansion
Properties
At Smart Finance we can consider applications for most types of commercial property. These properties must be freehold or long term leasehold (lease must be minimum 55 years at the end of the term of the loan). The principal categories are as follows:
Country properties
Health industry properties
Investment properties
Leisure properties
Professional properties
Retail properties
On some properties the commercial security is acceptable in isolation. On others additional security will be required.
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