03 Dec ARE OVERDRAFTS OVER?
The good old days of overdrafts
Banks operate a little differently to the way they used to when it comes to overdrafts. Back in the good old days you would call your local manager (who you would be on first name terms with) and he would likely understand your situation and arrange a modest overdraft for you where moneys were clearly due in and pressing bills needed to be paid. Fast forward to the current day and life is a little different.
Overdrafts and small companies
Small companies, in particular, are increasingly finding that banks can be slow and unhelpful in instances where speedy short term funding is required. Overdrafts are rarely offered. Short term bank loans can be anything but speedy. Taking on a quick company loan from an unknown lending company feels uncomfortable. So what is a small business to do at the end of a month when wages and suppliers need to be paid?
Premier Asset Finance Solution
Premier has heard this story many times from exasperated company directors. We’ve heard of overdrafts being reduced and even withdrawn! The quick, simple and invisible (at least in terms of credit scoring) solution offered by us has proved invaluable.
No need for overdrafts if you have personally owned assets
Company directors can use personally owned assets such as art, vehicles or jewellery to secure a short term loan. With funds available often on the same day as their enquiry. There is no need to go ‘cap in hand’ to the bank and no need to take on a loan that might negatively impact a personal credit rating.
What does Premier Asset Finance Charge?
Premier Asset Finance have no arrangement fees and no early redemption penalties. The only cost for the money is the monthly redemption fee (calculated in simple terms – never compounded) that the capital loan sum has accrued up until the date of redemption. In short, Premier can offer a simple transparent solution which has worked well for many business owners.
If you would like to learn more about how Premier Asset Finance can help you or your clients.
Please call us on 0800 93 22 64