Finance Roll

It is now possible to obtain unsecured funding for company payroll, PAYE and NI. The specialist lender who provides this service gives 60 day rolling credit on your gross monthly payroll, with a provision to allow for growth.

It is a well know fact that lack of cash flow plays a significant part in holding back the growth of small and medium sized businesses. Its not that you don't have a steady and reliable income. It's just some customer's don't play as promptly as they should and of course, the one payment that has to be made each week or month is the payroll.

The key benefits of Payroll Financing for your business:

No security required by company directors

The funding appears as a normal trade creditor on a company's P&L, enhancing its credit rating

It can be used alongside other traditional financial solutions including factoring, invoice discounting and overdrafts

It does not impact on an organisation's secured funding arrangements

There's no set up fee

A flat rate on-going monthly facility fee

An interest rate of base plus 3% on the outstanding balance

If you can answer yes to the following questions, then you will probably qualify for Payroll Finance Funding: 1.Do you have a trading history of 1 or more years? 2.Is your annual turnover more than £100,000? 3. Do you have more than 5 employees?

Clients who have already gained assistance of payroll financing:

A large printing firm have been accepted as clients within 4 days from the application. They were offered a credit facility of £200,000 per month on 60 days revolving credit, base plus 3% on the outstanding balance and a monthly facility fee of £2,500.

A plastics manufacturing who applied for a facility of £50,000 per month. They were accepted on 60 day credit terms, base plus 3% interest charge on the outstanding balance and a monthly facility fee of £635.

A firm of architects looking for funding of £30,000 per month. They were processed within 3 days and accepted on 60 day terms, base plus 3% interest on the outstanding balance and a monthly facility fee of £400 per month.