Total amount of credit (total amount requested):
£100,000, term 12 months.
Term loan element
£70,000, drawn at the start of the term and repaid over 12 months.
Flexible Facility element
£30,000 fully drawn for the entire 12 month term.
£3,500 (3.5% of total amount, fixed and deducted from the term loan). Term Loan Interest £9,430.06. Interest rate: 24% pa. Flexible Facility Interest £9,000. Interest rate 30% (fixed on drawn funds). Total charge for credit: £21,930.06.
Total amount payable: £121,930.06