Personal loan

FINDING FINANCE FOR THE INDIVIDUAL

Here at PFC Finance we pride ourselves on being able to offer access to finance like no other.  The team is made up of finance veterans who use their experience and inventiveness to find the right loan to suit the individual and the loan’s purposes.

Our approach to lending is also different.  Rather than approaching a bank or financial institution that only has one source of funds, we use a panel of more than thirty funders who specialise in lending for different objectives or people – meaning that we can find access to finance like no other organisation.   This is also the case whatever the applicant’s position whether on behalf of a large corporate, SME, private practice or individual.

There is also more good news as we are finding that since Brexit, the loan market is buoyant.  This market buoyancy is clearly illustrated by the volume of requests for finance and actual lending we have experienced which has increased by more than 20%, when compared to this time last year.

In addition to this, the number of companies willing to lend has also increased and we are pleased to announce that in turn our panel of lenders has increased by nearly 10% allowing us to open even greater access to finance than ever before.

A large part of this burgeoning sector is Personal lending.  PFC now has five sources of personal loan funding on their panel. Through these funders we can offer regulated and unregulated personal loans that can be used for private or business purposes.

With such an eclectic choice of funders, we can arrange unsecured personal loans from £1,000 up to £100,000. In rare cases, we can even source up to £200,000 of unsecured personal lending, although once you get to this rarefied figure, the lender will often look to take security as comfort.

Based on these criteria they can offer a borrower an affordable option to introduce capital into their business, or meet the costs of personal requirements, from legal bills to holidays, vehicles to house renovation.

Successful applicants are able to repay over terms as short as 3 months, or as long as 5 years, and with a panel of lenders to choose from, there is a range of finance available for borrowers with less-than-perfect credit.

Our client portfolio, from owner managed sole traders to multi-director companies, are increasingly using this credit type as a solution to their essential business finance demands.

Generally, the rates are lower than standard unsecured business loans. Additionally, no personal or director guarantees are required. There is also the capacity to introduce these personal draw-downs into the company balance sheet, with all of the benefits of a director’s loan (incorporated clients have this option).

Having a wide range of companies willing to lend means that we are able to offer the most appropriate access to finance for an individual’s requirements and a truly personal loan i.e. one that’s been tailored to you as an individual.

Case study

One such example of how PFC took a client’s need and built a tailored response to it is in the case of a family of four who were looking to raise the capital required to invest in a coffee shop franchise in the North East of England.

The four family members approached PFC to find the most competitive loan from its panel of lenders and decided to take out an unsecured personal loan for £25,000 each to raise the necessary £100k investment.  In doing so each family member was able to access an unsecured personal loan at an almost single digit rate, equally sharing the risk of the venture, and drawing down on finance cheaper than the general business loan market.

The four family members will be able to make the repayments over 60 months, providing manageable serviceability of the finance, and naturally low capital repayments while the business grows.

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