Thousands of Small businesses across Britain have been hit, the British Business Bank offers a lifeline.
The fallout around Carillion’s collapse hits thousands of small businesses
As small businesses across a multitude of business sectors are facing the realisation that their biggest customer has gone to the wall, Carillion’s suppliers are given a lifeline by the government but they need to act fast.
The British Business Bank set up in the wake of the Global Financial Crisis of 2008 has offered to extend terms under the Enterprise Finance Guarantee Scheme (EFG). This means that participating banks in the scheme; Barclays, Lloyds, HSBC, RBS, Santander and TSB will extend their normal lending terms to make it easier for the victims of the Carillion collapse to extend their borrowing with less stringent underwriting requirements.
So it’s all good then..?
The banks using the EFG scheme all use it to extend their own underwriting criteria a little so – they might lend a business a little more money without additional security, they might overlook a few missed payments or a cash-flow deficit.
That doesn’t mean that your business will automatically be successful with an application. The majority of business owners, especially small business owners make the same four mistakes when applying for a business loan or commercial mortgage;
- They only go to one bank – their own business bank.
- When they make their application, they rely on the bank manager to tell them what information to supply rather than creating a great application pack which the bank can’t help but approve.
- The application is for what the business owner would like to borrow but is not written with the bank’s criteria for lending in mind.
- As a business owner there is only just enough time in the day for running the business, especially when there’s a crisis, so the lending application is rushed and questions left half-answered.
How can Acorn.finance help?
- A panel of 250 lenders means Acorn.finance have a lender to fit almost every circumstance in business.
- Your Acorn.finance funding expert knows which lenders require what information to underwrite a loan, we make sure they have the right information to make a quick decision.
- Framing the application correctly, in a way that the lender will want to see it means we’re more successful more of the time.
- Having an expert running your application means that we’ll be taking all the calls, analysing the information and getting it into the right hands and following it up. All this while you are running your business.
Contact us now to discuss your options and quote Carillion for a 20% discount on our fees before 16th February.
Our experience of 20 years making purchases happen
Our award-winning approach to business and property finance
Our 5* customer service
We understand your problem, then help the lender to understand.
Don’t just take our word for it
acorn.finance is an award winning finance broker, here are a few testimonials from our clients;
UK Commercial Mortgage Broker of the Year – 2016, 2015 & 2014. (M&I International)
Commercial Mortgage Broker of the Year – 2013 (Business Moneyfacts)
Shortlisted – Commercial Mortgage Broker of the Year – 2014 & 2015 (Business Moneyfacts)
Acorn Commercial Finance (Acorn.finance) is authorised and regulated by the Financial Conduct Authority (FCA) – #660207
We are also full members of the National Association of Commercial Finance Brokers.
Although most of the commercial mortgages, business loans, buy to let mortgages, bridging finance and property development loans acorn.finance arrange are not regulated by the Financial Conduct Authority we take our responsibilities as a professional broker very seriously and apply the highest standards of customer service and advice to every case, regulated or not.
As members of the NACFB since 1997, our ethos has always been to adhere to their Code of Practice in every aspect of our business.
The NACFB has operated an industry recognised Code of Practice since 1992 which endorses best practice in the industry. All NACFB brokers agree to abide by the Code of Practice which ensures that you have the guarantee that Acorn.finance will always operate professionally and in your best interest.
Founded in 1997 by father and son team Tom and Paul Thompson, Acorn Finance have long been one of the leading finance brokers in the small business and property sectors.
We’re a multi-award winning team with 7 “best UK broker” awards in the last 6 years and have been featured on the BBC Inside Out programme to show best practice in the commercial lending sector.
Acorn’s specialist knowledge of small businesses marked us out as the “go to” broker for any trading business but especially those in the hospitality sector which resulted in Acorn Commercial Finance becoming the only finance provider asked to join the BIIAB (British Institute of Innkeeping Advisory Board).
We work harder to find the funding you need to thrive
Acorn.Finance (Acorn Commercial Finance previously) have been funding commercial and investment property since 1997.
As a small business just like you, the Acorn.finance team understands the needs and time pressures of the buy to let property investor, developer or business owner.
Our mission is to give every business owner, property investor or developer access to the finance they need to thrive and grow. In a broad and fragmented market with more lending sources than ever, it is no longer an option to rely on the products of just one lender for the life of a business, lenders are many and varied. Our role is to help you find the very best funding package to fill your needs, and to have the funding available to you, just when you need it. To do that we work across the whole of the finance market, from the high street banks and challenger banks through to crowdfunding providers (including our own) and sometimes private equity and businesses angel investors.
Whether you are growing your business or investment portfolio or just starting out then finance is of vital importance and getting the best deal can easily be the difference between growing or not or even failure. Our experts take time to understand your needs and aims in both the long and short term before recommending you a product which we believe is the best one to achieve your aims. By taking that time to understand your needs we also work more closely with our lenders than most brokers, that means we have a market leading level of success with more applications going through to a successful completion and more of our clients go on to long-term success.
Call your local office using our freephone number – 0808-164-2364
Or – to arrange a convenient time for an initial call – Click here
344-354 Gray’s Inn Road
2 Wellington Place
Almondsbury Business Park
152 Morrison Street