The payment of VAT usually consumes large amounts of money from professional firms. It is common for firms to experience strained cash flow every quarter after paying VAT. This strain interferes with the smooth running of the firm. Today, there are various firms that offer VAT loans.
Such a loan is usually for purposes of providing bridging finances for a short period till the company gets VAT refunds. Some lenders give this loan to the new companies to make VAT payments on equipment bought or property bought. All kinds of professionals can be eligible for the loan.
Each lender has his own terms of lending but basically the loan is for a short period ranging from 3 to 12 months. This loan releases the firm's funds for working capital or to be used for other pressing financial needs. The interest rate is usually quite minimal and can be even as low as 1%.
The borrower derives various benefits from such a loan including improvement of the firm's cash flow which puts it in a better position to develop and grow. Since the monthly payments are normally fixed, the firms are able to budget their money. They offer affordable and competitive rates. Other lines of credit are left open for any additional funding.
The financier may require certain details from you. These include your accounts for past two years, copy of your VAT returns showing your amount of liability plus your updated management accounts. Names of directors/partners, bank statements for the last three months and the availability of personal guarantee may be required too.
Making applications for VAT loans is quite fast and easy because the loan is usually processed in a matter of days. It is possible to apply through the internet for personalized quotations that meet your individual needs. These lenders normally have great services that are backed by an expert advisory team. They usually don't have any hidden charges.
Such a loan is usually for purposes of providing bridging finances for a short period till the company gets VAT refunds. Some lenders give this loan to the new companies to make VAT payments on equipment bought or property bought. All kinds of professionals can be eligible for the loan.
Each lender has his own terms of lending but basically the loan is for a short period ranging from 3 to 12 months. This loan releases the firm's funds for working capital or to be used for other pressing financial needs. The interest rate is usually quite minimal and can be even as low as 1%.
The borrower derives various benefits from such a loan including improvement of the firm's cash flow which puts it in a better position to develop and grow. Since the monthly payments are normally fixed, the firms are able to budget their money. They offer affordable and competitive rates. Other lines of credit are left open for any additional funding.
The financier may require certain details from you. These include your accounts for past two years, copy of your VAT returns showing your amount of liability plus your updated management accounts. Names of directors/partners, bank statements for the last three months and the availability of personal guarantee may be required too.
Making applications for VAT loans is quite fast and easy because the loan is usually processed in a matter of days. It is possible to apply through the internet for personalized quotations that meet your individual needs. These lenders normally have great services that are backed by an expert advisory team. They usually don't have any hidden charges.
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Finding specialized loans such as VAT Loans is easy to do when you search online. You can check out the website for Hampshire Trust Loans for good rates and terms.
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