IGF Commercial Finance provides a fully flexible loan facility with a range of options for clients to choose from.
How does the commercial development loan work?
A commercial loan facility from IGF provides a way for you to raise money for your business quickly, easily and simply, to give you the freedom to create the loan the way you want it – and then change it if you need to.
At any time during the term of the loan you are able to:
Pay your loan when you want to. You tell us how you want to repay your loan over the agreed term. After the first twelve months of your facility, you may at any time: increase your payments, use surplus cash by making lump sum reductions or change your normal repayment frequency by arranging to pay weekly, monthly or quarterly or with one final bullet payment - whatever suits your cash flow situation.
Reduce your payments: If you need time to build up your cash flow or need to invest money elsewhere in the business for a short while, then reduced payments to the loan capital can be a real benefit. Here your normal commitment is reduced for an agreed period of time, giving you the ability, for example, to see the return on your expenditure before having to make full repayments.
When the reduction period ends your payments will increase to the amount equired to clear the loan, in full, within its agreed term.
Pay just the interest: By paying just the interest (a payment holiday) you have a breathing space when you require it. Following a holiday your repayment instalment(s) will simply be increased to include that element of capital, which would ordinarily have been applied during the holiday period to ensure the loan is repaid in full on the agreed date.
Drawdown in stages: This provides you with easy access to money when you need it, with the commitment of further advances upto the limit agreed, whilst keeping your repayments down. Taking funds only when required in this way can save you money as you only pay interest on the amount of the loan you have taken.
IGF Commercial Finance works closely with all its clients, tailoring facilities to meet their specifi c requirements. If your circumstances change from that discussed at the outset, we will help make any necessary adjustments to your facility, quickly and easily, keeping your business on track.
The size or the legal structure of your business is not important as the commercial Development Loan is able to accommodate most businesses regardless of turnover or fi nancial performance and whether sole trader, partnership, limited company or PLC. The facility is only available to existing clients of the IGF Group.
Fees are fully discussed and agreed with you at the start of the agreement and these will form part of your contract with IGF. The cost of the Commercial Development Loan is dependent upon our assessment of your business and its needs, but typically arrangement fees will be 1 - 2% of the borrowed amount and interest will be charged between 3 – 6% over base rate. This is calculated daily and charged on a monthly basis in arrears. Interest roll up is not permitted at any time during the duration of the loan.
Our contract is usually for a minimum of 12 months and up to a maximum of 60 months.
The Commercial Development Loan is a facility that is secured over property, and a suitable charge will be taken over any such asset before an advance is made. Your home may be at risk if you do not keep up repayments on a mortgage or other debts secured upon it.
For further information, please call us on 0845 835 0597 and ask for details of your nearest IGF Representative.
To find out more call us on
08452 30 40 50
and ask for details of your nearest IGF Representative