Near Prime Commercial Finance

Commercial Finance is not often black and white. There are various areas of grey and small details can decide whether a case is classed as prime or non-prime by different lenders.

More recently new lenders have come to the market willing to take a view on certain aspects of an applicants background/credit history etc.

Areas where we have lenders who are willing to take a view are:

• Excesses on bank statements
• Lenders not requesting bank statements
• Small number or amount of CCJ/credit arrears with good explanation
• Address history imperfections
• Residency issues
• Trading accounts
• 
  

Interest rates, lenders arrangement fees and early repayment fees tend to be higher than prime but less so than non-prime and lenders are more willing to negotiate. Non-prime lenders tend to be more grid/template driven, i.e. what type of security can be used as security.

PIAM FINANCE will always consider the best lenders for each client's circumstances.

LTVS are generally midway between prime and non prime.