Secured, Asset Backed Loans
What are they?
Our asset backed loans are a fast and simple way for Borrowers to raise finance by using their assets as security. We are able to act quickly by underwriting the loan, providing certainty to the Borrower which enables them to take advantage of business opportunities and growth prospects.
For our Co-Funders these loans offer the ability to participate in a syndicate based on their own level of risk/return, in the sectors or jurisdictions of their choice.
The Benefits for our Borrowers
- We are easy to deal with;
- Our experienced team make decisions quickly, taking an holistic view of you and your business;
- You can concentrate on growing your business whilst we meet your funding requirements.
The Benefits for our Co-Funders
- We are easy to deal with, our business is based on relationships;
- We have years of experience and a team of knowledgeable staff;
- We offer you comfort as we Co-Fund with you, either in front of you or alongside you, where we share the identical risk with our own capital.
What does it cost?
- There is 0.5% Commitment Fee (non-refundable and payable upon return of our Offer Letter);
- 1.5% Arrangement Fee (payable on completion of loan);
- All legal fees are paid by the Borrower;
- There is an administration fee which is charged to the Co-Funder.
What are the requirements?
Our starting level for secured, asset backed loans is £250k and we have no upper limit to our lending, our largest loan to date being £17m.
How does it work for Borrowers?
- We have an initial meeting to understand your borrowing requirements and advise on our due diligence process for a loan application.
- We perform Anti Money Laundering (AML) and Know Your Client (KYC) checks.
- We prepare an Internal Credit Assessment and a proposal document for our credit committee to review.
- We produce an Offer Letter for you to sign with an agreed repayment strategy and pre-drawdown requirements.
- We underwrite the loan, but also syndicate with other Co-Funders.
- Our Co-Funders sign the loan agreement alongside Sancus & the Borrower.
- We monitor the ongoing performance of the loan. Sancus is the facility and security agent and in the unlikely event of a default, we handle the resulting proceedings.