Total amount of credit (total amount requested):
£150,000, term 36 months.
Term loan element
£120,000 drawn at the start of the term and repaid over 36 months in equal monthly instalments of £4,707.94.
Flexible Facility element
£30,000 fully drawn for 12 months of the 36 month term.
£6,000 (4% of total amount, fixed and deducted from the term loan).
Term Loan Interest: £49,485.92. Interest rate: 24% pa.
Flexible Facility Interest: £9,000. Interest rate 30% pa (fixed on drawn funds).
Total interest and fees: £64,485.92.
Total amount payable: £214,485.92