Asset Advantage has launched two new business loan products for UK small and medium-sized enterprises (SMEs).
The first is a capital expenditure (CapEx) term loan, which provides funding for business assets that do not fit traditional lending, including specialist equipment, soft assets, fit-outs, refurbishments and commissioning costs.
The second is a business acquisition loan, aimed at those looking to buy a business, buy out a partner or complete a management buy-in.
This product offers upfront capital with structured repayments and typically funds 100% of the transaction.
Both products are available as loans between £75,000 and £500,000 with a maximum term of 60 months.
They are open to limited companies, sole traders and limited liability partnerships (LLPs), including new start businesses with up to two years of accounts.
Gary Thompson (pictured), sales director at Asset Advantage, said: “Our new look business loans offering makes it even easier for commercial brokers to pair the right products and funding with the right client and business case.
“Our two new dedicated products answer the clear funding needs many SMEs currently face – whether it’s support with an acquisition, the need to complete fit-outs and refurbs or acquire non-standard assets.
“Business loans offer a tremendous vehicle to achieve this and with our experienced and skilled approach to funding, they remain a really popular part of our offering.”
Thompson added: “Our latest broker survey tells us that funding for business acquisitions remains in high demand.
“The same is true for business loans, particularly those that can support and facilitate the likes of non-standard purchases, soft assets or intangible costs.
“In both cases, not every funder has the appetite or ability to provide such funding, so it’s important for commercial brokers to know where they can turn for help.”
