Scottish Pacific Business Finance closes its UK operation


Scottish Pacific Business Finance has announced that it will be settling no new working capital facilities in the UK with effect from 6 February 2019 and will be supporting existing clients until the end of April 2019

Scottish Pacific launched in the UK business four years ago to service the import finance market and then introduced an invoice finance capability two years later. During that time the influx of unsecured lenders has led to both markets becoming oversupplied. After an extended period of review, and despite making several changes they have made the tough decision to close the UK office.

Secure funding against R&D tax credits

funding R&D tax credits

Companies who invest in research and development are eligible for a cash payment back from HM Government. Once the R&D tax credit has been approved it can take many months before the cash is received. Enable Finance is pleased to announce we can fund this gap between your R&D tax credit approval and funds being received from the Government.

R&D Tax Credit Funding:

  • An unsecured business loan – secured against the R&D tax credit approval document.
  • Bridges the gap between approval and funds received
  • No monthly repayments, interest is rolled up and cleared when the R&D tax credit is paid
  • Receive working capital today on the strength of R&D tax approvals.
  • The R&D tax claim must have been arranged by a professional third party
  • We may require proof of previous successful claims.

For more information on how we could fund your working capital on the strength of your R&D tax credits please call 0114 294 5046 or apply online below.

Supply chain finance facility gives asbestos removal company extra working capital

supply chain finance for asbestos company

Client: National asbestos removal Company.

Turnover: £3.3 million

Facility: Supply Chain Finance

Location: South Yorkshire

A fast growing asbestos removal Company needed additional working capital as their contracts grew faster than their traditional bank overdraft could service. Working with the Managing Director and Company accountant Enable Finance moved quickly to understand how the business operated and worked under JCT contracts.

After understanding the contractual nature of the business and the fact the client needed the funding to be unsecured Enable Finance moved quickly and delivered a supply chain finance facility. Providing the client with a revolving credit facility allowing them to extend terms with their suppliers by up to 120 days.

For more information on how Enable Finance could fund your business growth please get in touch.

New business finance website launched

Working With Enable Finance

Great news Enable Finance have launched their new website, the site has had a complete makeover with great care and attention to try and make the user experience smooth. Simpler site navigation should make it easier to find our business loan products and commercial funding services.

To coincide with our new site we have re-built our application forms which are more far more intuitive guiding our clients through the approval process. Enable Finance work with over 150 commercial lenders ensuring our clients have access to a wide choice of business finance.

Key Finance Highlights

  • Unsecured business loans without personal guarantees
  • Business loans up to £25 million
  • Buy To Let mortgages up to 85%
  • Commercial mortgages up to 75%
  • International trade finance supporting importers and exporters
  • Revolving credit facilities.

New HMO Mortgage Rates & Multi Unit Block Interest Only Criteria

Enable Finance are delighted to announce new HMO mortgage rates for House of Multiple Occupation, Multi-Unit Blocks, student lets with more than 8 rooms and other specialist buy to let properties for professional buy to let landlords. These products offer landlords looking a fantastic opportunity to grow their HMO and student let portfolios without being constrained by room numbers or their business strategy to take interest only loan products.

Loan SizeRate65% LTV75% LTV85% LTV
£100,000+3 month LIBOR (0.75%) +3.45%3.60% 4.25%*†

* Maximum loan amount £1,000,000.
† Maximum 75% LTV for HMOs with more than 8 rooms
3 month LIBOR is subject to a minimum rate of 0.75%

HMO Mortgage & Re-mortgage Criteria

million plus hmo mortgages

0.50% Fee reduction for loans above £1 million

rental cover from 125%

Rental Cover Requirements from 125%

small HMO mortgages

Standard Property

  • Single dwellings.
  • HMO/multi/student lets with up to 5 rooms.
  • Freehold blocks/titles of land with up to 4 residential units.

interest only HMO

Interest Only Available

Normal rates apply if interest only period is 10 years or less. If interest only period exceeds 10 years, 0.5% rate increase applies

fixed rate HMO mortgages

3 & 5 Year Fixed Rates Available

limited company buy to let

Eligible Applicants

  •  Individuals or Limited Companies,
  • LLPs, & Partnerships,
  • Trusts and Pension Schemes.

HMO mortgage

Specialist Property

  • HMO with 8 or more rooms & Multi Unit Blocks
  • Student Lets with 6 or more rooms.
  • Freehold blocks/titles of land with 5 or more residential units

HMO mortgages up to 30 years

Term 2-30 years

Enable Finance are national specialist commercial finance brokers with access to over 120 lenders, including crowdfunding platforms, Peer 2 Peers lenders and challenger banks. This means our buy to let investors and specialist student let providers have mortgage products to help them grow and develop their business.

Enable Finance are Headquartered in Sheffield which has 2 universities within the City along with NHS teaching hospitals so we know a thing or two about HMO mortgages and funding student let properties. For more information about HMO licencing click the link provided.