Newable Finance

Newable Business Loans accredited under Recovery Loan Scheme

Newable Business Loans has been accredited as a lender under the Recovery Loan Scheme (RLS).

The finance provider is now able to offer loans between £25,001 and £250,000 to UK limited companies, with rates starting from 10% per annum on terms between one and three years.

The facilities must be secured on residential investment, holiday let or commercial properties and RLS loans do not require a personal guarantee for facilities under £250,000.

Newable also works with a range of other accredited RLS lenders to enable customers to access multiple forms of finance, including unsecured loans, invoice finance and commercial mortgages, through one point of contact.

Phil Reynolds, managing director at Newable Finance and Newable Business Loans (pictured above), said: “We’re really pleased to return to the SME lending market with a product that allows UK SMEs to access the funding they need at competitive advance rates enabled by the RLS. 

“Many of the SMEs impacted by Covid-19 currently struggle to raise further funds or refinance debt on their commercial or investment properties. 

“Newable’s RLS loan product can support these SMEs at relatively high LTVs, without personal guarantees.

“Going forward, Newable will continue to develop its range of SME funding products to focus on areas of the market where existing options are limited."

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