Shaping the Financial Landscape

In the ever-evolving world of finance and business, staying ahead of market trends is crucial for informed decision-making. As we step into 2024, there are several interesting developments that we are hearing about that are shaping the financial landscape. There were a couple that caught our attention the most and here’s why.

We’ve seen a rise in our clients contacting us about refinancing, or looking for funds to help grow their businesses. That’s when the Recovery Loan Scheme (RLS) has become a game-changer. It can help our lenders offer more than they could, with the 70% guarantee from the government.

We are also often requested to look into refinancing of Coronavirus Business Interruption Loans (CBIL) as they are more expensive compared to today’s market. These loans are typically secured by a debenture with a personal guarantee.

With the self-assessment deadline of 31st January looming over many, businesses are exploring loans to assist with paying tax bills and VAT obligations. This financial support becomes particularly relevant during tax seasons, offering business the flexibility to manager their cash flows more efficiently.

As a business who currently utilises serviced offices, we’ve also been looking for our own premises to move into for a while, however like many we have faced challenges. One of the challenges many face is high purchase prices and costly refurbishment/conversion costs.

A forward-thinking solution gaining traction is the concept of instead purchasing land, and going onto build you own unit. We have lenders that can facilitate our trading businesses to do this, providing a commercial mortgage on a long-term basis.

There are many other interesting developments occurring in the market today, and we will be keeping abreast of those, sharing our thoughts and insight as we go. If you want to talk to any of the team about the topics we have listed above, don’t hesitate to get in touch via our Contact Us page.