I have no assets to offer as security - is this a problem?
Security is a term used to describe assets that can be offered up to a lender in order for them to provide you will finance. Tangible assets can include property, machinery, company debenture or trade debtor book, pension or endowment funds. Non-tangible assets include personal and third party guarantees.
We are interested in the viability of your business and in your attitude towards the loan repayments and will consider the borrowing proposition on its merits, not on the availability of security you may or may not have.
If you do have assets, either tangible or non-tangible, we may ask you to offer them to us to secure your loan. We consider every application on a case by case basis.
If we do decide to take security against your loan, any costs associated with making the arrangements will be bourne by you. e.g. legal costs and registration costs.
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