Accounting Firms/ Partners

Purpose:

Purchase of accounting practice, establishment of new practice, working capital, items of a capita expense nature.

Maximum Loan Amount:

Business Lending: up to 60% of gross accounting fee income (plus up to2.5x renewal income from financial planning arm in terms of insurance & financial planning arm in terms of insurance & financial planning policy)

Consumer Lending: up to 90% of market value of partner’s primary residence

Max. Loan Term

Business Lending: 10 Years

Consumer Lending: 30 Years

 

Security:

Partnership/ Firm: Charge of debts, operating as a floating charge and including a dead of accession

Company: Fixed & Floating charge, Directors’ Guarantees

Consumer Lending: Mortgage over residence

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