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State Securities launches Bridging Finance for plant, equipment & vehicles
Key points :
Wednesday, 21 November 2007: State Securities is delighted to announce an addition to its already extensive product portfolio – commercial Bridging Finance. Bridging Finance is an ideal solution for customers who need an immediate short term funding solution. For example, for MBOs/MBIs or when a short term cash flow injection is required because a delay in longer term funding has occurred. Bridging Finance can be used to acquire plant, equipment and vehicle purchases, or for business investment or expansion. The maximum term is 6 months, with a minimum loan of £25,000, and a maximum of £500,000. After 6 months the client either repays the capital outstanding or converts to a traditional facility over a minimum 18 month period. Competitive terms and commission are available. All deals are subject to State Securities standard underwriting criteria and acceptable valuations of plant, equipment or property. Andrew Bullard, Sales Director said, “State Securities is acknowledged as an experienced innovator in providing workable, cost-effective finance solutions, particularly in situations that traditional finance companies avoid. Bridging is an established feature of the property funding market. We’re pleased to be able to add this short term, flexible finance solution to our existing portfolio which includes asset finance from £10k to £5m; commercial mortgages from £100k to £5m; Small Firms Loan Guarantee in conjunction with asset based finance; factoring and turnaround finance”.
-Ends- Notes to Editors :
State Securities State Securities has over 26 years experience assisting business customers who are looking to raise finance for the acquisition of new or used assets, along with the re-financing of assets already owned by the business. It also provides commercial mortgages for properties including factories, warehouses, offices and retail outlets and factoring for State Securities type customers to help improve their cash management and to assist in trying to provide a complete finance package. State Securities supports a wide range of clients, including public and private limited companies, partnerships and sole traders, and can also help companies that have difficulty in raising finance in a short period of time, for example new start businesses. Additionally, it specialises in assisting businesses in company or individual voluntary arrangements. Head office : Burlington House, Botleigh Grange Office Campus, Grange Drive, Hedge End, Southampton, Hants SO30 2AF, t 01489 775600, f 01489 775601
Visit www.statesecurities.co.uk |
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