Through it’s new division, Crystal Commercial Funding, the company now offers a range of exclusive products that considers applications based on current payment ability over the more traditional serviceability checks which may cause applications to be declined.
This has come about as a result of current market pressures leaving a sector of the small business community, entrepreneurs and investors with little scope to pursue or develop a wide range of business activities without resorting to higher rate sub-prime borrowing.
The new product, launched this week, looks to understand fully why a client needs the funding, the security available and the payment ability. It targets the financial needs of the small business, considering mortgages from £30,000 to £600,000 with a maximum loan-to-value of 70%.
Repayment can be taken as interest only or capital and interest, with the product open to direct applicants or through brokers and intermediaries. It covers commercial and semi-commercial applications from England, Wales and mainland Scotland.
