FAQs Secured Business Funding

Credit4 Secured Business Funding is designed to facilitate business growth for UK SMEs.

Whether your business needs to release cashflow where it is being suppressed by the servicing of existing high-cost debt, to make savings on multiple rates, or simply needs a new finance solution, Secured Business Funding offers amounts of between £75,000 – £250,000 for terms of between 12 months and 5 years.

Secured Business Funding is unsecured against the business, backed by personal guarantees from the Directors of the business and a first or second charge against a suitable property of a personal guarantor.

Amounts of between £75,000 and £250,000.

Terms of between 12 months and 5 years.

As part of our application process, we will require you to explain what you need a Credit4 facility for. Our fundamental requirement is that the facility must be used for the purposes of growing your business.

We believe in transparent pricing so our costs are very straightforward.

We will charge an arrangement fee of 5% of the total amount of the funding we agree with you.

The interest on the loan will accrue at 18% per annum and will be calculated on a daily basis. We will provide a schedule in the agreement which will set out how much the monthly repayments will be and what proportion relates to interest and capital repayment.

Please note, there may be professional or legal costs associated which we will discuss with you at the outset.

In summary, 5% upfront arrangement fee, 18% per annum interest. No prepayment fees, no administration fees, no service charges, NO HIDDEN COSTS.

If you meet our eligibility criteria, then we will consider your application. For more information on our eligibility criteria call us on 020 3637 0570.

We believe in providing true flexibility and therefore you are able to repay capital amounts with no fees or early repayment charges applying.

Yes, you can cancel Credit4 Secured Business Funding after 6 months, although if we agree you are able to cancel sooner. No cost will be incurred for cancelling Secured Business Funding.

As with the Credit4 Flexible Facility and Credit4 Dual Growth Funding, all the proprietors/directors of the business applying for the Credit4 Secured Business Funding are required to give a personal guarantee.

Secured Business Funding is unsecured against the business, backed by personal guarantees from the Directors of the business and a first or second charge against a suitable property of a personal guarantor.

Should the business that has taken the funding be unable to meet any of its obligations under the facility agreement, we may require that the guarantors meet them instead. Please contact us for more information.

As we may need to contact and agree matters with any existing lenders on the property being secured and a valuation is required, the process may take a number of weeks. We quote 4-6 weeks but will always endeavour to complete matters more quickly and will keep you updated along the way.

Yes, provided the funding will be used to grow your business.

You will receive frequent statements of account.

On completion, the loan net of the arrangement fee and any agreed professional costs will be released into the business bank account, unless we have agreed to settle outstanding amounts with other lenders directly.

If you are unable to make any payment you are required to during the term of your Credit4 Secured Business Funding, you will need to ensure that you contact us as soon as possible.

Credit4 will always provide the best customer service possible. However if there’s something that you’re not happy with, we would like to be able to put things right as quickly as we can.

If you want to make a complaint, please contact us in one of the following ways:

1.Send us an email at: admin@credit4.co.uk
2. Call us on 020 3637 0570
3. Write to us at Credit4 Limited, Riverside House, River Lawn Road, Tonbridge, TN9 1EP

We will investigate the complaint internally and respond within 2 working days. However, if the complaint is complex it may take longer to resolve, in which case a holding response will be sent to you explaining the situation and informing you when further contact will be made.

Please note that, in accordance with regulations, we keep an up to date a report of each complaint, for a period of 5 years from the date the complaint was received.