As a finance brokerage specialised in legal sector funding we can arrange unsecured loans from 3 months to 6 years on highly competitive rates – the majority of professions funders offer maximum repayment terms of 5 years (and often less), so it is a string to our bow to be able to offer funding options over 6 years, as it may significantly improve affordability.

Loans are available for most business purposes, including refinancing existing debt, disbursement funding, costs associated with marketing, partner-buy in/out, refurbishment, and more general cash flow or growth funding requirements.

We also have lenders that can arrange 7-figure facilities secured via a debenture on work in progress, debtor, and disbursement ledgers. As the lenders take comfort from available security, the advances they are able to consider can be vastly larger than for unsecured lenders. Amortising facilities and interest only options can be considered.

3 month VAT loans are very popular as a way to smooth peaks and troughs in cash flow – an unsecured loan for the amount of the VAT with capital and interest split in to three repayments, typically due on days 30, 60, 90 following drawdown. There is no obligation to fund the following quarter’s VAT, but many firms value the benefits it can bring – it is usually a quick and simple underwriting process to approve a facility for the following quarter, if desired.

January and July self-assessment liabilities, along with corporation tax, can be funded in a similar way; unsecured loans with repayment terms usually of 6 or 12 months. Many firms use this form of lending to support cash flow throughout the year, or free up cash for growth plans – without the need to dip in to the overdraft or tie up existing bank credit lines, which could leave funds available for operational requirements.

Many regular expenditures can be spread in this way, such as practicing certificates and indemnity insurance. Whilst finance is commonly offered alongside insurance, it tends to be for a shorter term than that of the premium; spreading a 12 month policy over 12 repayments can result in much lower monthly payments than if it were spread over 10.

We can help with asset finance (HP and leasing options available) for IT, including practice management systems, furniture, and most other business assets. Terms of up to 5 years are commonly available and for certain assets, for instance phone systems, terms of up to 7 years may be available. We can also arrange HP and leasing of cars.

The breadth of our lender panel enables us to help with a much wider range of requirements, so whatever it is you need, feel free to get in touch for a no obligation conversation and we will be happy to review your requirements and provide options as may be appropriate.

Broadscope Finance is a trading name of Silvercloud Finance Solutions Ltd – an Appointed Representative of AFS Compliance Ltd, which is Authorised and Regulated by the Financial Conduct Authority, firm number 625035. We are an independent commercial finance brokerage and not a lender, as such we can introduce you to a wide range of finance providers depending on your requirements and circumstances. We are not independent finance advisors and so are unable to provide you with independent financial advice. We may receive payment(s) or other benefit from the finance provider if you decide to enter in to an agreement with them.