ANOTHER RECORD BREAKING MONTH
8 October 2024
September saw Kingsley Asset Finance breaking our own records, with our biggest month of new business funded EVER!
The benefits of an unsecured professional practice loan
An unsecured practice loan with Kingsley Asset Finance can help your solicitors practice with additional working capital, allowing you to free up your cash flow to fund other projects and bills.
Extra cash flow = increased budget to spend on developing your practice.
Asset finance with Kingsley Asset Finance
In addition to offering unsecured practice loans, we can also fund assets for the practice to include company cars, commercial vehicles as well as equipment.
We offer both Hire Purchase and Finance Lease, tailoring the facility to suit your requirements.
Our rates are competitive and include minimum deposits of 10% and flexibility to repay over five years.
We consider minimum deal sizes of £10,000 up to a maximum of £75,000.
As with our unsecured practice loans, our asset finance facilities are underwritten typically within a 24-hour time frame and with eSign documents making it a quick and painless process.
Credit criteria for solicitors' practices
Applications for our unsecured professional practice loans are available to first class credit risks such as accountants, solicitors, and other professional practices such as the medical, dental, and veterinary professions.
Underwriting guidelines
- Business established minimum of three years and profitable
- Home owning personal guarantees
- UK National only
- Equity partners only
- No sole personal injury or immigration practices
- Must be registered with appropriate professional body
- Clear credit searches
Credit terms
- Fixed Rate Non-Regulated Commercial Loan
- Finance term 1 – 3 years
- Minimum loan advance of £25,000 to a maximum loan advance of £75,000 to any one practice
- Personal guarantee of equity partners/directors (must be homeowners)
- Clear searches
- No penalty for early settlement
- Admin fees payable with first Direct Debit £325
(Please note we will consider under £25,000 for Limited companies and LLP’s and four partner and above firms)
