Most people don’t have someone with the ready cash to support them in their business ventures.
Many people have successful backers who assets are tied up in property, vehicles and other businesses.
If you cane make the case that your business is able to support loan repayments we may be able to fund you with the support guarantor. You may be eligible for a secured business loan using your backers assets.
Find out if you are eligible for a guarantor business loan with Ignite Business Finance.
Guarantor Loans
We can providing funding against most uniquely identifiable items with a secured loan. The amount that we will be able to lend will vary much depending on the strength of the application and the type of asset being financed. Loan terms are generally up to 5 years and there is no upper-limit to borrowing.
Our Loan Calculator is provided as an indicator of affordability only. It is not an exact calculation of what your finance will cost. Please contact us to determine your specific needs and we will provide an accurate quote for your finance requirements.
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FAQs
Will my guarantor need to provide security?
Guarantor loans must be secured business loans. For this reason security must be provided. If the security on offer is property the guarantor can provide an agreement to mortgage if they do not wish to provide an actual mortgage.
What happens if I do not make payments on my guarantor loan?
If you cannot keep your loan up to date and your guarantor can also not meet this obligations any assets offered by the guarantor as a secured loan will needs to be sold to recover the losses.
Who can be my guarantor?
Anyone prepared to support you that has assets to use as collateral can be your guarantor.
If they are older (say your parents) and would have no means of supporting your loan should fail to make payments loan serviceability would have to be compelling. No financier wants to sell anyone else’s assets to recover a loan if they don’t have to.
In some cases we may need to show that consideration is passed to the guarantor for their collateral obligations.
Call us on 0800 646 453 if you have any further questions
Purchase Order Finance
Are you receiving large orders you would like to fund? Enquire about Purchase Order Finance.