If your business is struggling and distressed but you still have unencumbered assets or financed assets with significant equity, then Challenge Finance could potentially secure you funding of up to £15m. This short term financing is generated through private investors who examine each case on its own merits and circumstances.
Most institutional lenders take weeks or months to process an application. In contrast emergency funding can be available in hours. As this is a last resort lending option, the rates of repayment reflect the risk involved. However, although you are likely to have to pay back an additional 20% on the amount borrowed, in many cases this capital has been used to return gains of 100% and keep businesses like yours to full profitability.
Emergency funding is only available if there is sufficient
asset cover. You can use assets such as property,
book debtors or plant and machinery assets. However, even in such circumstances directors may be
required to give personal guarantees to assure lenders of repayment.
If you apply for emergency finance most decisions will be made within 48-72 hours from the original application. Following a successful application funds are made available within 48 hours. Please contact us to discuss emergency business finance or loans and how to start the application process.