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