SECURED BUSINESS FINANCE

Hospitality and entertainment business

Term: 12 months to 7 years | Amount £75,000 | Feature: option to extend

This new business was highly vulnerable due to the volatile cash flows of running events in the UK.

They had ‘bridged’ slow periods using several high-cost short-term loans that were now maturing and demanding settlement.

Outcome

Accredo provided one simple 12-month loan with the option either to repay in full at the end of the term or, with the business more mature and settled, to convert to a 7-year fully amortising loan at that time.