The first additional product in the enhanced business loan range is its capital expenditure term loan, which aims to offer flexible funding for business assets that “may not be suitable for traditional funding types”.
This could include non-standard assets like specialist equity and soft assets, as well as things like fit-outs, refurbishments and commissioning costs.
The second product in its enhanced business loan range is a business acquisition loan, which can be used to buy a business, buy out a business partner or complete a management buy-in.
It offers upfront capital and structured repayments and Asset Advantage usually funds 100% of the transaction.
Both deals offer loans between £75,000 and £500,000, with a maximum term of 60 months.
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They can be offered to limited companies, sole traders and LLPs, with options also for new-start businesses – those with two or fewer years of filed accounts.
Gary Thompson, sales director at Asset Advantage, said: “Our new-look business loans offering makes it even easier for commercial brokers to pair the right products and funding with the right client and business case.
“Our two new dedicated products answer the clear funding needs many SMEs currently face – whether it’s support with an acquisition, the need to complete fit-outs and refurbs or acquire non-standard assets. Business loans offer a tremendous vehicle to achieve this, and with our experienced and skilled approach to funding, they remain a really popular part of our offering.”
He continued: “Our latest broker survey tells us that funding for business acquisitions remains in high demand. The same is true for business loans, particularly those that can support and facilitate the likes of non-standard purchases, soft assets or intangible costs. In both cases, not every funder has the appetite or ability to provide such funding, so it’s important for commercial brokers to know where they can turn for help.”
