Payroll Funding for Small to Medium Enterprises (SME's)
With immediate effect Vantis Asset Finance is able to provide clients with access to additional short term cashflow funding via their payroll.
This service is available whether or not we currently prepare a clients payroll and offers funding for company payrolls, PAYE and NI.
Features
60 days rolling credit on monthly salaries is provided with a provision to allow for growth in payroll.
Typically a decision can be made within 48 hours and funding can be arranged in 3-6 days.
The service can help companies that:
- Are close to the limit of their existing facilities
- Cannot take advantage of other sources, such as factoring
- Want a cash injection that can match their sales or VAT cycles
- Need a quick decision
- Need flexible funding
The facility will be to companies that have:
- A minimum of five employees
- Three years trading history
- A projected annual turnover of £1m or more
Charges at a competitive rate of base plus 3% plus a monthly facility fee.
Benefits
- It is unsecured, no personal guarantees are required from company directors and there are no other forms of security against the company
- There are no restrictions to using this to fund the payroll while continuing to use other funding solutions such as factoring, invoice discounting and overdrafts
- The service can be switched on and off whenever the client likes
- It provides up to 60 days rolling credit instantly
Fund for Start up’s & Small Businesses
Vantis Asset Finance have recently completed negotiations with one of our panel of lenders, enabling us to offer up to £30,000 to new start ups and businesses with poor historic financial accounts, providing same day underwriting on ANY assets with no asset valuation or inspection required.
Conditions
- Proprietors / Directors must be home owners
- Up to £10,000 per individual (i.e. 3 Directors = £30,000 available; 2 Directors = £20,000 etc)
- Funding from £1,000 and up to 5 years
- Subject to clear credit searches on individuals
- Over £30,000 available if additional security pledged with extended terms of up to 10 years if required
If you would like more information or to discuss these opportunities further, please contact Mark O'Neil or Paul Sargent.