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Financial Solution sees successful product launch

Specialist commercial provider, The Financial Solution, based in Herefordshire, has reported a successful launch of its new unsecured commercial loan.

The product is specifically aimed at helping businesses gain access to affordable short term funding.

It is designed to provide funding where traditional sources of funding have been drying up. Unlike other forms of lending, including bridging finance, the facility is totally fee free and completely unsecured.

Assessment for a loan is based on past cashflow and particularly on credit and debit card receipts and the repayments are made directly from the income stream generated through credit and debit card sales.

The facility is renewable and can be rolled over to provide a revolving credit facility where necessary, but is primarily designed to be a short term facility.

Nick Battersby, managing director of The Financial Solution, says, ” This unsecured cash advance facility is a brilliant solution for businesses looking for short term funding, particularly in light of the withdrawal of short term funding by many banks.

“Because of the unique way in which each case is underwritten, it also works well for businesses in leased properties, where traditional secured funding is unavailable and other forms of borrowing are not flexible enough.”

He adds: “The facility is quick to arrange, very flexible and funds can be released within as few as ten days from application. Our underwriters are highly experienced in this field and have often been able to help when there was no other solution.”

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