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 A two-partner law firm was looking to strengthen its balance sheet such that it could grow its business. The firm required £100,000 but preferred for the funding to remain off balance sheet and hence increase the partner’s capital accounts.
This was done by arranging an unsecured loan of £50,000 for each partner repayable over 60 months. The proceeds of the loan were paid direct to the firm and the monthly repayments were collected through the firm bank account at the partner’s request.
The Partners enjoyed tax relief on the loans and the repayments were classed as part of their drawings. Because it was a capital injection, no borrowings appeared on the firms balance sheet, helping to show a far healthier cash position.
 A young Associate Dentist was looking to buy his first practice and after several months found what he was looking for. The practice was priced at £435,000 with the building being valued at £320,00, the goodwill £80,000 and the fixtures and fittings £35,000
We arranged a 25-year bank loan to cover the total purchase price, secured only on the freehold of the practice property, the remainder being unsecured. The facility allowed a 12-month repayment holiday, allowing our client the opportunity of getting to grips with the business.
The rate charged by the bank was 1.25% over bank base rate and was fully flexible with no early settlement penalties. It also allowed chunks of the loan to be repaid when appropriate.
 A well-established Optometrist practice decided that the practice needed a total revamp and obtained a quote from a specialist firm of shop fitters for £53,000 + VAT.
This included new reception desk and furniture, new display racking and new testing room.
The practice was under the de-minimus VAT limit but paying £9,275 of VAT in one year probably would use the limit and more, resulting in a big VAT write off.
By leasing the shop fittings, the practice was able to spread the VAT over a five-year period, and as a result remained below the de-minimus VAT limit.
A client contacted us because she wished to review her existing credit that she had. He total amounts owed on credit cards, bank loans and overdraft amounted to nearly £20,000. The interest rate on the credit cards and the overdraft was very high.
The client had tried some of the general personal loan companies but was being offered very high rates for a consolidation loan. Because we have specialist lenders for every purpose we arranged a £20,000 consolidation loan, repayable over 84 months at an APR of just 6.9%, totally unsecured.
All quotations are given with no obligation and enquiries are treated in the strictest of confidence.
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