Pre-Contract Information
Introduction
BUSINESS FINANCE & LEASING Limited, t/ a BUSINESS FINACE TRUST
CAERAU HOUSE, BRYN HIR, SWANSEA SA4 3HY
EMAIL: enquiries@bftrust.co.uk
We want to help you to find a suitable finance product that meets your needs. This page explains factors that you should consider.
Our role
We work with a panel of finance providers to find a suitable arrangement for you.
Once we have found a suitable arrangement, we will present the lender’s agreement to you to sign. We will discuss this with you and will be happy to explain any terms of the agreement to you.
Do I need finance?
The main options for financing working capital or acquisition of business assets are:
BUSINESS FINANCE & LEASING Limited, t/ a BUSINESS FINACE TRUST
CAERAU HOUSE, BRYN HIR, SWANSEA SA4 3HY
EMAIL: enquiries@bftrust.co.uk
We want to help you to find a suitable finance product that meets your needs. This page explains factors that you should consider.
Our role
We work with a panel of finance providers to find a suitable arrangement for you.
Once we have found a suitable arrangement, we will present the lender’s agreement to you to sign. We will discuss this with you and will be happy to explain any terms of the agreement to you.
Do I need finance?
The main options for financing working capital or acquisition of business assets are:
- Utilise available cash and credit balances
- Raise new equity capital
- Arrange finance from banks or lenders.
- Asset finance linked to the use and life of the assets
In deciding which option to select, relevant factors may include:
- Whether you have the cash to buy outright
- How long you need the finance for
- Costs of the different options
For more help in deciding whether to select asset finance, see the Government’s Business Finance advice (https://www.gov.uk/business-finance-explained/overview)
What types of working capital finance are there?
In deciding which option to select, relevant factors may include:
• How long you expect to need the finance in place
• Whether funding is required on a semi-permanent basis or is in and out with daily trade.
• If you are happy to provide security for the finance or prefer unsecured facilities which can be dearer but more flexible and with less commitment.
For more details of factors affecting suitability, see the Guidance published by the Institute of Credit Management, Managing cash when it’s time to invest (http://www.icm.org.uk/wp-content/uploads/2013/08/Resources_CFG_fla.pdf)
Fees
What types of working capital finance are there?
In deciding which option to select, relevant factors may include:
• How long you expect to need the finance in place
• Whether funding is required on a semi-permanent basis or is in and out with daily trade.
• If you are happy to provide security for the finance or prefer unsecured facilities which can be dearer but more flexible and with less commitment.
For more details of factors affecting suitability, see the Guidance published by the Institute of Credit Management, Managing cash when it’s time to invest (http://www.icm.org.uk/wp-content/uploads/2013/08/Resources_CFG_fla.pdf)
Fees
- We don’t make a charge to you for helping you to find a suitable asset lender. We will receive a payment from the lender for our work. Different lenders may pay us different amounts.
- Lenders costs may include arrangement and documentation fees, interest assessed on a daily basis, and non-utilisation fees based on funding which is made available but not used on a daily basis. Lenders typically levy their fees at the outset and interest monthly or quarterly.
Contact Information
We will use the contact information you provide to us to obtain quotations from lenders. We may also use the information to tell you about our services in the future by letter, telephone, email or text message. Please contact us if you do not want your information used in this way.
Complaints procedures
If you have a complaint about our service, please contact us. We will acknowledge your complaint within five working days. We aim to resolve complaints within two weeks and to provide a final response to all complaints within four weeks.
If your agreement is regulated under the Consumer Credit Act and if after making a complaint you are still unhappy and feel the matter has not been resolved to your satisfaction please contact the Financial Ombudsman Service (http://www.financial-ombudsman.org.uk/)
