Law firm needing to restructure existing debt

Debt consolidation:

Term: 5 years
Amount: £375,000
Feature: semi-annual

A busy law firm was struggling to repay multiple short-term facilities which they had taken out to cover shortfalls in their cashflow. The company was now trading much more steadily, and the repayment dates for their loans were getting ever closer.

They approached Accredo with a view to replacing their existing debts, which amounted to £375,000 including all fees as well as the interest they had accrued, with one loan and repayments over a 5-year term. However, they needed a repayment profile that suited their income pattern.

Outcome

The director was able to offer a second charge over their residential property which meant that Accredo could provide the firm with the full £375,000 on a semi-annual payment basis which suited the company's cashflow.

Our Products

Short term business loans

Our short term facilities have a transparent payment profile of anything from 3 - 18 months allowing your clients to free up cash flow to run their business.

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Long term business loans

Our longer term facilities are available for periods of 5 to 10 years.

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Secured equipment leasing

Purchasing equipment outright often requires a significant investment. Accredo provides secured equipment leasing options for most asset types including second hand equipment as well as leases for intangible assets such as software.

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Tel:  01444 255915

Fax: 01444 255910

Email: customerservices@accredoltd.co.uk

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Our products

We provide secured business loans from £25,000 to £1,000,000 specialising in solutions for new-starts, difficult credits and established companies. We lend against residential, commercial, mixed-use and buy-to-let property. 

We aim to give decisions in under three working hours. Our repayment terms are from 3 months to 10 years. And we offer fixed repayments or flexible terms such as seasonal payments, payment holidays and interest-only.

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