Representative Examples – Dual Growth Funding

Credit4 Dual Growth Funding Representative Example 1

Total amount of credit (total amount requested): £100,000, term 12 months.

Term loan element of £50,000 drawn at the start of the term and repaid over 12 months.

Flexible facility of £50,000 fully drawn for the entire 12 month term.

Arrangement fee: £3,500 (3.5% of total amount, fixed and deducted from the term loan).Term Loan Interest £6,735.76. Interest rate: 24% pa. Flexible Facility Interest £15,000. Interest rate 30% (fixed on drawn funds). Total charge for credit: £25,235.76.

Total amount payable: £125,235.76

Interest and capital on the Term Loan element is payable monthly.

Interest on the Flexible Facility element is payable fortnightly and capital is repayable in one single payment of £50,000 at the end of the term.

Credit4 Dual Growth Funding Representative Example 2

Total amount of credit (total amount requested): £100,000, term 24 months.

Term loan element of £50,000 drawn at the start of the term and repaid over 24 months.

Flexible Facility fully drawn (on average) for 12 months (365 days) and undrawn for 12 months (365 days).

Arrangement fee: £3,500 (3.5% of total amount, fixed and deducted from the term loan). Term Loan Interest £13,445.32 Interest rate: 24% pa. Flexible Facility interest on utilised balance: £15,000. Interest rate 30% (on drawn funds). Flexible Facility interest on non-utilised balance: £3,000. Flexible Facility interest rate on non-utilised balance 6% pa (fixed on undrawn funds). Total charge for credit: £34,945.32.

Total amount payable: £134,945.32

Interest and capital on the Term Loan element is payable monthly.

Interest on the Flexible Facility element is payable fortnightly and capital is repayable in one single payment of £50,000 at the end of the term.

If you are unsure about the way in which the charges are calculated on our facilities, please feel free to give us a call on 020 3637 0570 and we will be happy to explain them.