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Post by edena on Oct 18, 2014 0:29:01 GMT
Is there an appetite on Rebuilding Society for larger loans? It seems that the majority of loans are from £25-100k.
We have an existing loan via the site which has 12 months of perfect payment history but looking to refinance it so we can obtain additional funds for our next expansion.
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shimself
Member of DD Central
Posts: 2,561 
Likes: 1,170
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Post by shimself on Oct 18, 2014 14:00:58 GMT
Well rebs are the one to ask, but worth trying thincats as an alternative.
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Post by Deleted on Oct 18, 2014 16:48:17 GMT
Why are you expanding? Do you think people will have more money to spend next year than they do this year?
If you can't expand without taking on additional debt, especially if that debt's for wages and other costs rather than machines that'll make you more productive, you ought to consider leaving it.
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Post by edena on Oct 19, 2014 14:30:33 GMT
Shimself - Thincats has been recommended a few times, but the process seems protracted.
Sterling - I agree with your assertion about the economy, but our expansion is for assets to generate immediate revenue rather for salaries. We buy at pennies on the pound so even if the market does crash, we can still recover our purchase price plus a few percent.
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Post by danraj on Oct 23, 2014 20:36:21 GMT
We would be happy to have a look at it. Our largest loan to date was £315k.
With the current lender base, I'm confident that we could lend up to £500k for a healthy business with good security.
If you need more then I do recommend ThinCats.
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Post by edena on Oct 24, 2014 12:34:59 GMT
danraj - the application was sent off about a month ago, and the additional requested information was sent to you earlier this week. Just waiting for your team to review and list.
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Post by edena on Nov 19, 2014 22:45:06 GMT
A few of you have PM'ed or emailed me directly for an update, I think I have answered all of you. I apologise upfront if I missed anyone.
We've sent off the latest management accounts this evening to RBS and asked them if they can list as soon as they are completed with their underwriting.
The nice thing this time will be that funds in an existing loan can be pledged/transferred to the new loan unlike last time where some of you were waiting for funds to be released.
We've met all of our stated revenue and asset targets that we said we would late last year, we've spent most of this year getting everything consolidated and now we're ready for the next chapter of growth and hope that you Rebs'ers (that doesn't quite have the right ring - someone needs to work out a suitable noun) will back us once against for the next phase.
Regards
Eden
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