Loan of the Month
Cheval saves the day
This month we encountered a situation which reflects the times we are living in.
We were approached on behalf of an applicant who had run successful businesses and who had adopted a specific VAT structure on the advice of her accountant.
The validity of the VAT structure was challenged by Revenue, and despite a spirited fight through the courts, at the end of the day the customer faced a deadline to pay over £100,000 or have a judgment against her with all the consequences that entailed.
We were approached on behalf of an applicant who had run successful businesses and who had adopted a specific VAT structure on the advice of her accountant.
The validity of the VAT structure was challenged by Revenue, and despite a spirited fight through the courts, at the end of the day the customer faced a deadline to pay over £100,000 or have a judgment against her with all the consequences that entailed.
Fortunately, the client had genuine equity in her business properties which enabled her to offer Cheval security for a £100,000 bridging loan.
When the client advised HMRC that she could raise £100,000 in days, HMRC agreed to accept this amount in full settlement, provided it was paid over by the deadline.
When the client advised HMRC that she could raise £100,000 in days, HMRC agreed to accept this amount in full settlement, provided it was paid over by the deadline.
The loan completed in just 6 working days so preserving a hitherto impeccable credit record.
Minimum loan amount £30,000
Maximum loan amount £1.5M (higher amounts can be considered)
Loan terms from up to 9 months
No early redemption fees
Up to 70% LTV
No hidden fees or charges
Online KFI availability and electronic submission of Enquiry & Application forms
Maximum loan amount £1.5M (higher amounts can be considered)
Loan terms from up to 9 months
No early redemption fees
Up to 70% LTV
No hidden fees or charges
Online KFI availability and electronic submission of Enquiry & Application forms
