Manufacturer requires interest-only finance for research and development
Term: initial 12-month interest-only period
Feature: interest-only with option to extend by a further 5 years
A manufacturer of e-bike parts required a short-term, interest-only loan with flexible exit route to inject £350,000 for research and development of new products.
The cash flow projections suggested they needed 12 months with minimal repayments to get them through the research period before they could bring their product to market. They wanted a short-term loan but with some flexibility at the end of the term.