The key to good financing is clear terms & no loose obligations...
Whilst the concept of bank borrowing OR switching banks (on better terms we should hope!) is relatively straight-forward, things start to get hairy once we have layers of persons involved. Whether you’re a company with complex shareholdings or a sole trader, let’s work together to ensure no loose obligations are owed by your business at settlement!
- Does the proposed loan or refinance comply with any existing SHAG or constitution?
- Whose the borrower?
- Any personal or trust guarantors?
- Everyone independently advised?
- Repay old bank.
- Mortgage discharge?
- Security discharges?
* If you are re-financing.
Terms & Conditions
- General security agreement?
- Deed of guarantee?
- Asset-specific securities (i.e. over stock & shares)?