Invoice Finance Interest Rates

Interesting to compare the cost of money today, as compared to the past. The Bank of England’s Monetary Policy Committee today held Base rate at 0.5% – and it’s been that rate since the 5th March 2009. In January 2001 it was 6% and in January 1991 a hefty 13.875%. Money is cheap in comparison, assuming the bank will lend it to you, but businesses need to watch for the little tricks some lenders apply by way of minimum base rates.

New Start Recruitment Business – Ready, Steady, Cook!

We had a call today from an individual looking to set up a recruitment business for chefs. His personal bank would not help, mainly as he is not a home owner. We have put together a sensible business plan and brought in a couple of possible factors to compete for the business, so far one has already come back with an in principle offer. There are a lot of providers competing for business so even if the bank says no, there may still be help out there. Finding money is not that easy which is why a specialist, independent, broker can add value.