Secure Business Finance

Momentum is a short term asset-based lender, providing loan facilities with terms from 1-12 months. With facilities offered from £50,000 to £1m, Momentum requires tangible security to support all facilities . Momentum is a non-regulated lending facility for business purposes to Ltd co, Sole trader or HNW for business purposes. Personal guarantees are taken in all cases.

 
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Facility Limit

Business loans up to £50,000 - £1m

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Repayment

Term of loans between 1 and 12 months.

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Who can we help?

Ltd co, Sole trader or HNW

 

PRICING

  • Set up fee 2% - 4%

  • Monthly interest of 1% to 1.75% of the gross loan

  • Exit fee of 1% 

  • All professional fees to be paid by the borrower (valuation and legal fees)

  • Interest to be serviced monthly

  • Interest is charged on the highest balance in the previous month and therefore ad hoc capital repayments reduce the cost of the overall facility

  • Capital repayment monthly / adhoc / end of term

  • No penalties for early repayment

Security

  • Facilities to be secured against tangible assets in all instances the security must be property led – this can be residential, commercial, land or plant and machinery

  • Security can be on balance sheet i.e. owned by the business we are lending to or owned personally by a Director / Shareholder of the business

  • We are able to pull together complex security structures which can include some or all of the above assets, most facilities will comprise one or more of the aforementioned securities

  • Any security taken requires a RICS – Red book valuation addressed to ICL completed within the previous 3 months

  • We lend against 90-day sales, vacant possession value known as a Lending Value

  • We lend against the Lending Value at different LTV’s dependent on the security being offered

Security Loan to Value – on Lending Value (LTV)

  • Residential property < £1m (owner occupied or let on AST) – 75%

  • Residential property value >£1m (owner occupied or let on AST) – 75%

  • BTL, investment property – 80%

  • Commercial property (owner occupied) – 75%

  • Commercial property (tenanted / leased to a 3rd party) – 80%

  • Land with outline planning permission – 60%

  • Land with full planning permission – 60%

  • Bare land with no planning or building erected – 50%

  • Plant & Machinery via fixed charge via a chattels mortgage – 40% - 75%