Loans
Crowned Eagle is a finance broker that specialises in personal and commercial finance. We look at mainstream High Street options as well as specialising in the growing sector of Alternative finance, raising funds in ways you may not be aware of.
Representative example for unsecured loans: £3,000 over 3 years, representative 49.9% APR fixed, Monthly payment £146.39, Interest payable £2,269.91, Total repayable £5,269.91, Annual Interest Rate 41.2% fixed. Typical example for secured loans: £15,000 over 5 years, typical 16.9% APR variable, Monthly payment £371.98, Interest £7,318.95, Total Repayable £22,318.95.
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Crowdfunding
Crowdfunding is a process of borrowing from several small investors simultaneously, instead of just one larger financial institution. By cutting out the middleman, these types of peer-to-peer business loans can often be achieved at a cheaper rate. To qualify for crowdfunding, your business must be profitable and prove you are able to make repayments. Crowdfunders look at historical data and won’t lend against projections.
- Unsecured business loans of up to £250,000 for terms up to five years are available
- Secured business loans of up to several million are subject to asset quality, credit checks and LTV
- You must be an established business, usually with two years trading history
- The business must have clean credit, no CCJs or recent defaults
Short Term Unsecured Business Loan
A fast business loan taken over a short period (usually 12 months but can be up to three years). They can be arranged quickly and with little documentation to provide finance so you don’t have to go through an onerous application process.
- Loans can be arranged in as little as four hours (up to £100,000)
- Loan sizes can be up to £500,000 (7-10 days to arrange)
- Loan terms vary between 1 and 36 months (most lenders offer 12 month
- Little documentation is required to apply speeding up the process
- Some adverse credit is accepted
- Depending on the lender, you can repay early without penalty
Merchant Cash Advance
Allows you to raise finance for your business by using the receipts from your credit card machine as security. If your business has had a credit/debit card machine for at least six months, you are potentially eligible for Merchant Cash Advances (also known as a Business Cash Advance).
- Get as much as your average monthly card turnover
- Repay by giving a percentage of all future card takings
- No minimum monthly payments
- No need to change card terminal
- Can be arranged in as little as 3-4 days (depending on card processor)
Pension Led Business Finance
Is a way you can use your existing pension pot (either a SIPP or a scheme from a previous employer) to make loans to your business. If used correctly it means you can both get a cheap, flexible loan for your business and your pension earns a competitive return.
- If you have an existing pension you can arrange to lend up to 70% of it to your business
- The loan must be secured on an asset but for established businesses Intellectual Property is the most commonly used asset
- The loan term can be up to 10 years and must be at a commercial rate (e.g. 6%)
- Your business gets a cheap loan and your pension makes a healthy return
- Arranging Pension Led Business Finance is understandably very regulated to it takes 6-8 weeks to complete
Overdraft
If you need an overdraft you now don’t have to necessarily get it from your bank. A range of private lenders can provide you with an alternative overdraft with more flexible terms.
- Overdraft alternatives up to £500,000 available
- Terms up to twelve months available
- Only pay for what you use on a daily basis
- Security required can be debentures, PGs, property or invoices
- Minimum six months trading history required
- Limited Companies in England & Wales only
Asset Finance
Process of obtaining the necessary funds in order to purchase a new asset for your business. These can either be hard assets like cars, vans, plant equipment or machinery, or soft assets such as computer software. There are numerous advantages of using Asset Finance to fund business purchases over other methods:
- It frees up capital, improving your cash flow
- You can diversify your business funding base
- Finance is secured on the asset so no extra collateral is required
- Unlike a bank overdraft, it’s not repayable on demand
- Interest rates are fixed so you know exactly what you have to pay back
Invoice Finance
Allows you get your invoices paid up front without having to wait the payment term. We can guide you through the options you have her which include:
- Invoice Factoring good for one-off invoices and start-ups/small businesses
- Invoice Discounting better for regular funding requirements and larger established businesses
- Invoice Trading a combination of the above two but cheaper and faster if you have good quality debtors