All businesses need to be flexible, so it’s good to be ready for the unexpected. An overdraft will make sure that extra funds are available when you need them.
Any property given as security which may include your home, may be repossessed if you do not keep up repayments on your mortgage or other debts secured on it.
All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.
You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.
Features and benefits
With a business Loan From Purnima, you can make sure that extra funds are there when you need them.
- Borrow an amount to suit you.
- Only pay interest on the funds you use.
Our commitment to support your business through the economic downturn
- We will meet every reasonable request for competitive commercially-priced finance (whether short-term or long-term) from viable business customers.
- We will not change the availability of overdrafts during the period of a customer’s agreement, as long as their accounts are kept within agreed terms and limits.
- We will do our best to support any viable business through temporary difficulties and into the recovery.
Rates and Charges
Details of conditions, charges and interest rates.
Tell us about your plans and needs, we will then agree the interest rate with you and let you know if we require any security. An arrangement fee will apply and is related to the amount you choose to borrow. These terms will be discussed with you before you take out the overdraft.
How to apply
To apply for a Business Loan from Purnima you will need to confirm the following:
- you are a sole trader, partner, or director
- you are aged 18 or over
- you require the finance for business use.
Before you apply
Before you apply you will need to have the following information available:
- how much you would like to borrow
- the purpose of the finance
- how many months you would like to make the repayments over.